FCPO
FCPO 3rd Month Futures (PM) - 15 Jan 2025
Wed, 15-Jan-2025 02:25 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4408
Resistance
4408 / 4430 / 4451 / 4475
Support
4385 / 4358 / 4333 / 4309
Possible Range
4320 to 4420
Strategy
Long positions may be opened above 4385 with targets 4408/4430 at stop-loss at 4365
Short positions may be opened below 4385 with targets at 4358/4333 stop-loss at 4405

FCPO Mar month dropped 49 points or 1.10% to closed lower at 4388 on midday session. Malaysian crude palm oil futures opened lower on Wednesday, influenced by declines in rival soyoil on the Chicago market.

In daily chart, the pattern remains bearish, palm price trading within the downward channel currently trading toward downside bias after touched the resistant line at 4550 to 4545 of the range. We see the crucial support at 4355 to 4360, if breaking below we might see further lower, if supported, potential buying opportunity. The immediate support and resistance levels are identified at 4385 and 4408, 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