FCPO
FCPO 3rd Month Futures (PM) - 3 Dec 2024
Tue, 03-Dec-2024 02:03 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4978
Resistance
5009 / 5026 / 5051 / 5081
Support
4978 / 4952 / 4931 / 4907
Possible Range
4960 to 5060
Strategy
Long positions may be opened above 4980 with targets 5009/5026 at stop-loss at 4960
Short positions may be opened below 4980 with targets at 4952/4931 stop-loss at 5000

FCPO Feb month rose 32 points or 0.65% to closed higher at 4987 on midday session. Malaysian crude palm oil futures climbed on Tuesday, supported by strength in Dalian palm oil contracts. However, gains were limited by weaker soyoil prices in the Dalian and Chicago markets and a decline in November exports.


Palm prices trading within a range of sideway consolidation, with the top of the range spot at 5010 to 5020, while bottom range at 4930 to 4935. The price hovering above the middle of the range at 4970 to 4975 and likely to supported and go further higher for another round to the top of the range. The immediate support and resistance levels are identified at 4978 and 5009, respectively. 
 

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 3.936314 3.966986
EUR 4.638033 4.641717
CNY 0.579004 0.579460
HKD 0.502535 0.505960
SGD 3.092229 3.113332