FCPO
FCPO 3rd Month Futures (PM) - 11 Dec 2024
Wed, 11-Dec-2024 01:49 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4938
Resistance
4957 / 4975 / 4996 / 5016
Support
4918 / 4897 / 4879 / 4860
Possible Range
4900 to 5000
Strategy
Long positions may be opened above 4938 with targets 4957/4975 at stop-loss at 4918
Short positions may be opened below 4938 with targets at 4918/4897 stop-loss at 4958

FCPO Feb month dropped 16 points or 0.32% to closed lower at 4938 on midday session. Malaysian crude palm oil futures ended lower on Tuesday following industry regulator data revealing declines in the country's stockpiles, production, and exports.

The palm prices seem received support above area of middle of sideway range at 4910 to 4900, forming double bottom, potentially trading in upside bias for second session toward 4960 to 4955 range if 4940 to 4935 able to support. The immediate support and resistance levels are identified at 4918 and 4957, 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