FCPO
FCPO 3rd Month Futures (PM) - 20 Jan 2025
Mon, 20-Jan-2025 02:26 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4231
Resistance
4255 / 4280 / 4302 / 4325
Support
4231 / 4206 / 4182 / 4161
Possible Range
4200 to 4300
Strategy
Long positions may be opened above 4231 with targets 4255/4280 at stop-loss at 4211
Short positions may be opened below 4231 with targets at 4206/4182 stop-loss at 4251

FCPO Apr month rose 55 points or 1.31% to closed higher at 4245 on midday session. Malaysian crude palm oil futures extended gains for a second session on Monday, supported by a rise in Dalian vegetable oils, as traders awaited fresh cues from Malaysian palm oil export data for the January 1-20 period.

In daily chart, the palm price continues go higher and reached another day high at 4256, remain trading within the downward channel range, new support see at 4230 to 4235, support above this line could remain trading in positive note. Resistant range spot at 4255 to 4260 range, to trade further higher, the price must break above this range. Beware of the strong resistant at 4280 to 4285 range. The immediate support and resistance levels are identified at 4231 and 4255, 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