FCPO
FCPO 3rd Month Futures (PM) - 8 Jan 2025
Wed, 08-Jan-2025 02:24 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4353
Resistance
4353 / 4378 / 4400 / 4421
Support
4326 / 4304 / 4283 / 4262
Possible Range
4300 to 4400
Strategy
Long positions may be opened above 4353 with targets 4378/4400 at stop-loss at 4333
Short positions may be opened below 4353 with targets at 4326/4304 stop-loss at 4373

FCPO Mar month dropped 32 points or 0.73% to closed lower at 4333 on midday session. Malaysian crude palm oil futures climbed for the second straight day on Wednesday, supported by gains in Dalian palm olein and Chicago soyoil.

In daily chart, the pattern remains bearish, the price opens higher on morning session and then faced selling pressure. In hourly chart, we see the price trading below the middle of sideway consolidation range 4355 to 4360, we remain our plan as sell on rebound, with support see at 4330 to 4325. If the price recovers and break above the middle range, trader may try to buy. The immediate support and resistance levels are identified at 4326 and 4353, respectively. 

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 3.952219 3.979032
EUR 4.632284 4.636049
CNY 0.579684 0.580150
HKD 0.504395 0.507834
SGD 3.092296 3.113419