FCPO
FCPO 3rd Month Futures - 21 June 2024
Fri, 21-Jun-2024 08:29 am
by Dealing Team • Apex Futures

FCPO
Pivot
3942
Resistance
3962 / 3983 / 4007 / 4039
Support
3930 / 3897 / 3877 / 3845
Possible Range
3880 to 3980
Strategy
Long positions may be opened above 3945 with targets at 3962/3983 stop-loss at 3920
Short positions may be opened below 3945 with targets at 3930/3897 stop-loss at 3970

FCPO Sep month rose 39 points or 0.99% to close higher at 3959. According to traders, Malaysia crude palm oil futures closed higher on Thursday because of anticipated lower-than-expected growth in output and increased crude oil prices.

Overnight Soybean oil Dec Month dropped 0.07 to 44.37. Soybean oil Futures closed lower. Dalian’s active palm oil contract rose 8 to 7712 at yesterday night session.

Tracking the mixed performance in Dalian palm oils and Soybean oil markets, palm prices are anticipated to trade in range bound, with mildly upside bias. The immediate support and resistance levels are pinpointed at 3930 and 3962, respectively.

(News Source: Bernama)

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