FCPO
FCPO 3rd Month Futures (PM) - 21 Jan 2025
Tue, 21-Jan-2025 02:22 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4233
Resistance
4258 / 4282 / 4302 / 4325
Support
4233 / 4208 / 4183 / 4162
Possible Range
4220 to 4320
Strategy
Long positions may be opened above 4258 with targets 4282/4302 at stop-loss at 4238
Short positions may be opened below 4258 with targets at 4233/4208 stop-loss at 4278

FCPO Apr month rose 46 points or 1.09% to closed higher at 4252 on midday session. Malaysian crude palm oil futures extended their gains for a third consecutive session on Tuesday, bolstered by strength in Dalian and Chicago vegetable oils. However, a decline in exports this month limited the upside.

In daily chart, the palm price continues to trading in upward momentum at the bottom of downward channel, we see the price supported above 4235 to 4230 range and likely to remain in positive note, on short term technical buying. Resistant see at 4250 to 4255, breaking above could see further highest, beware the strong resistant at 4280 to 4285 area. The immediate support and resistance levels are identified at 4233 and 4258, 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