FCPO
FCPO 3rd Month Futures (PM) - 13 Jan 2025
Mon, 13-Jan-2025 02:29 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4481
Resistance
4503 / 4528 / 4553 / 4576
Support
4481 / 4458 / 4426 / 4403
Possible Range
4410 to 4510
Strategy
Long positions may be opened above 4481 with targets 4503/4528 at stop-loss at 4461
Short positions may be opened below 4481 with targets at 4458/4426 stop-loss at 4501

FCPO Mar month rose 93 points or 2.12% to closed higher at 4484 on midday session. Malaysian crude palm oil futures opened higher on Monday, following gains in rival soyoil on the Dalian market.

In daily chart, the pattern remains bearish, with the new resistant see at 4525 to 4530. In hourly chart, the palm price trading in sideway consolidation, opening breaking and trading above the middle of the range at 4445 to 4450. Supported above this range could remain buy on retracement plan, fail to support may consider selling plan. The immediate support and resistance levels are identified at 4481 and 4503, respectively. 

(News Source: Reuters)

Read more details in:

Disclaimer

The report is for internal and private circulation only and shall not be reproduced either in part or otherwise without the prior written consent of Apex Securities Berhad. The opinions and information contained herein are based on available data believed to be reliable. It is not to be construed as an offer, invitation or solicitation to buy or sell the securities covered by this report.

Opinions, estimates and projections in this report constitute the current judgment of the author. They do not necessarily reflect the opinion of Apex Securities Berhad and are subject to change without notice. Apex Securities Berhad has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

Apex Securities Berhad does not warrant the accuracy of anything stated herein in any manner whatsoever and no reliance upon such statement by anyone shall give rise to any claim whatsoever against Apex Securities Berhad. Apex Securities Berhad may from time to time have an interest in the company mentioned by this report. This report may not be reproduced, copied or circulated without the prior written approval of Apex Securities Berhad.

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