FCPO
FCPO 3rd Month Futures (PM) - 27 Dec 2024
Fri, 27-Dec-2024 02:18 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4569
Resistance
4590 / 4612 / 4635 / 4658
Support
4569 / 4543 / 4520 / 4497
Possible Range
4540 to 4640
Strategy
Long positions may be opened above 4569 with targets 4590/4612 at stop-loss at 4549
Short positions may be opened below 4569 with targets at 4543/4520 stop-loss at 4589

FCPO Mar month rose 44 points or 0.97% to closed higher at 4587 on midday session. Malaysian crude palm oil futures opened slightly higher on Friday, poised to record a weekly gain after a decline in the previous session, supported by the strength in rival edible oils.

Palm prices trading higher after supported above the middle of sideway range at 4530 to 4525, the price broke up above the top (also resistant) of sideways arrange ta 4560 to 4570 and continue to trade higher, now serve as support range. We remain the call to buy on retracement, new resistant range see at 4610 to 4615, if breaking above we might see further upside, beware of any profit taking activities. The immediate support and resistance levels are identified at 4569 and 4590, 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