FCPO
FCPO 3rd Month Futures (PM) - 14 Jan 2025
Tue, 14-Jan-2025 02:26 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4491
Resistance
4502 / 4523 / 4546 / 4568
Support
4479 / 4457 / 4428 / 4404
Possible Range
4440 to 4540
Strategy
Long positions may be opened above 4479 with targets 4502/4523 at stop-loss at 4459
Short positions may be opened below 4479 with targets at 4457/4428 stop-loss at 4499

FCPO Mar month dropped 4 points or 0.09% to closed almost flat at 4496 on midday session. Malaysian crude palm oil futures traded in a narrow range on Tuesday as the market paused following two sessions of strong gains.

In daily chart, the pattern remains bearish, with the resistant see at 4525 to 4530. In hourly chart, the palm price trading in sideway consolidation, trading above the middle of the range at 4455 to 4460, we remain our view to buy on retracement. Otherwise, the market might turn to sell. The immediate support and resistance levels are identified at 4479 and 4502, 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