FCPO
FCPO 3rd Month Futures (PM) - 16 Jan 2025
Thu, 16-Jan-2025 02:18 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4231
Resistance
4231 / 4254 / 4280 / 4304
Support
4205 / 4183 / 4162 / 4137
Possible Range
4180 to 4280
Strategy
Long positions may be opened above 4205 with targets 4231/4254 at stop-loss at 4185
Short positions may be opened below 4205 with targets at 4183/4162 stop-loss at 4225

FCPO Apr month dropped 61 points or 1.43% to closed lower at 4207 on midday session. Malaysian crude palm oil futures fell for the third consecutive session on Thursday, pressured by disappointing export data and declines in rival vegetable oils on the Chicago and Dalian markets.

FCPO active traded contract switch to Apr from today onward. In daily chart, the price opens lower on this morning session, and broke down another support at 4230 to 4225 range, now serve as resistant range, we remain rebound sell strategy. The palm price trading the bottom and support area of the downward channel with new crucial support spot at 4160 to 4165, breaking below could see further lower, is supported could see buying opportunity. The immediate support and resistance levels are identified at 4205 and 4231, 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