FCPO (Daily Chart)
FCPO 3rd month benchmark contract closed the year at 3788 recording a hike of 1125 points or 42.24% equivalent. Amid the recovery of major economies throughout the world, commodity prices has rise to a new platform forming solid grounds for major commodity prices. The average benchmark futures price for palm oil is at 2714. Palm oil prices was considerably stable in prices throughout the 1st half of the year and started its rally towards the 2nd half of the year. Moving forward, palm oil prices could still rally amid the stabilizing of the Ringgit.
*FCPO is ringgit denominated.
Immediate Resistant : 3900
Immediate Support : 3480
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