FCPO
FCPO 3rd Month Futures (PM) - 30 Dec 2024
Mon, 30-Dec-2024 02:25 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4620
Resistance
4641 / 4663 / 4686 / 4709
Support
4620 / 4597 / 4576 / 4550
Possible Range
4600 to 4700
Strategy
Long positions may be opened above 4620 with targets 4641/4663 at stop-loss at 4600
Short positions may be opened below 4620 with targets at 4597/4576 stop-loss at 4640

FCPO Mar month dropped 4 points or 0.09% to closed slightly lower at 4620 on midday session. Malaysian crude palm oil futures started lower on Monday, tracking a decline in rival soyoils on the Dalian market.

Palm prices supported above 4595 to 4600 range and trading higher, wee the price faced resistant below the crucial range of 4645 to 4650 (also the top of sideway pattern), we might see sideway consolidation trading in coming session, within the top and bottom which is spot at 4600 to 4595, breaking either way may see the price moving toward the direction. The immediate support and resistance levels are identified at 4620 and 4641, respectively. 

(News Source: Reuters)

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Market Mover
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