FCPO
FCPO 3rd Month Futures - 20 June 2024
Thu, 20-Jun-2024 08:30 am
by Dealing Team • Apex Futures

FCPO
Pivot
3915
Resistance
3951 / 3967 / 3994 / 4020
Support
3905 / 3878 / 3865 / 3845
Possible Range
3880 to 3980
Strategy
Long positions may be opened above 3920 with targets at 3951/3967 stop-loss at 3890
Short positions may be opened below 3920 with targets at 3905/3878 stop-loss at 3950

FCPO Sep month rose 37 points or 0.95% to close higher at 3920. Malaysian palm oil futures increased on Wednesday, following the movements of other vegetable oils on the Dalian Commodity Exchange, recovering from some of the losses seen in the previous session.

Dalian’s active palm oil contract rose 64 to 7732 at yesterday night session. Soybean oil is set to resume trading today.

Tracking the bullish performance in Dalian palm oils markets, palm prices are anticipated to trade in upside bias, however upside could limit. The immediate support and resistance levels are pinpointed at 3905 and 3951, respectively.

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.186095 4.224386
EUR 4.685732 4.700656
CNY 0.595462 0.596801
HKD 0.537358 0.541779
SGD 3.239345 3.269267