FCPO
FCPO 3rd Month Futures (PM) - 17 Jan 2025
Fri, 17-Jan-2025 02:28 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4144
Resistance
4172 / 4196 / 4221 / 4245
Support
4144 / 4121 / 4108 / 4086
Possible Range
4120 to 4220
Strategy
Long positions may be opened above 4172 with targets 4196/4221 at stop-loss at 4152
Short positions may be opened below 4172 with targets at 4144/4121 stop-loss at 4192

FCPO Apr month dropped 42 points or 1.00% to closed lower at 4144 on midday session. Malaysian crude palm oil futures fell for the fourth consecutive session on Friday and are on track for their third weekly decline, weighed down by losses in Dalian vegetable oils and weak demand.

In daily chart, the pam price trading below support line of downward channel 4165 to 4170, now turn to become resistant, bigger picture remain bearish with sell on rebound as main plan, however we see some technical buying opportunity with limited upside. If the price could break above 4172, we might see further higher likely toward 4220 to 4225 range. The immediate support and resistance levels are identified at 4144 and 4172, 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