FCPO
FCPO 3rd Month Futures (PM) - 23 Jan 2025
Thu, 23-Jan-2025 02:23 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4159
Resistance
4159 / 4180 / 4202 / 4225
Support
4132 / 4106 / 4085 / 4064
Possible Range
4100 to 4200
Strategy
Long positions may be opened above 4159 with targets 4180/4202 at stop-loss at 4139
Short positions may be opened below 4159 with targets at 4132/4106 stop-loss at 4179

FCPO Apr month dropped 64 points or 1.52% to closed lower at 4144 on midday session. Malaysian crude palm oil futures fell for the second consecutive session at Thursday’s opening, pressured by weakness in rival soyoil on the Dalian market.

In daily chart, the palm price remains hovering at the bottom of the downward channel. The opening on morning session broke down support at 4170 to 4165, trading further lower, we remain see rebound sell a main plan, next crucial support sees at 4100 to 4105 range. The immediate support and resistance levels are identified at 4132 and 4159, 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