FCPO
FCPO 3rd Month Futures (PM) - 4 Dec 2024
Wed, 04-Dec-2024 02:12 pm
by Dealing Team • Apex Futures

FCPO
Pivot
5122
Resistance
5141 / 5160 / 5179 / 5198
Support
5122 / 5103 / 5084 / 5065
Possible Range
5090 to 5190
Strategy
Long positions may be opened above 5122 with targets 5141/5160 at stop-loss at 5102
Short positions may be opened below 5122 with targets at 5103/5084 stop-loss at 5142

FCPO Feb month rose 47 points or 0.93% to closed higher at 5122 on midday session. Malaysian crude palm oil futures climbed for the second straight session on Wednesday, driven by strong performance in Dalian vegetable oil contracts.

Palm prices trading within a range of sideway consolidation, with the top of the range spot at 5150 to 5155, while bottom range at 5110 to 5105. Trading above middle of the range at 5125 to 5130 could provide buying opportunity, while trading below the range could remain in selling pressure, however downside could be limited. The immediate support and resistance levels are identified at 5122 and 5141, respectively. 

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.469651 4.506675
EUR 4.657726 4.670202
CNY 0.614066 0.615959
HKD 0.575567 0.580195
SGD 3.287518 3.315825