FCPO
FCPO 3rd Month Futures (PM) - 19 Dec 2024
Thu, 19-Dec-2024 02:20 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4500
Resistance
4500 / 4524 / 4552 / 4576
Support
4474 / 4448 / 4430 / 4411
Possible Range
4420 to 4520
Strategy
Long positions may be opened above 4474 with targets 4500/4524 at stop-loss at 4454
Short positions may be opened below 4474 with targets at 4448/4430 stop-loss at 4494

FCPO Mar month dropped 44 points or 0.97% to closed lower at 4485 on midday session. Malaysian crude palm oil futures declined for the fifth consecutive session on Thursday, pressured by weakness in competing edible oils.

Palm prices in morning session trading in very tight range of consolidation, the price resisted below of 4500 to 4510, tracking the bearish sentiment in rival oil, we expect further downside movement, with the crucial support see at 4440 to 4435 range. Beware of any sentiment changes. The immediate support and resistance levels are identified at 4474 and 4448, 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