FCPO
FCPO 3rd Month Futures - 24 June 2024
Mon, 24-Jun-2024 08:25 am
by Dealing Team • Apex Futures

FCPO
Pivot
3918
Resistance
3945 / 3960 / 3979 / 3996
Support
3885 / 3861 / 3848 / 3813
Possible Range
3870 to 3960
Strategy
Long positions may be opened above 3915 with targets at 3945/3960 stop-loss at 3890
Short positions may be opened below 3915 with targets at 3883/3861 stop-loss at 3940

FCPO Sep month dropped 59 points or 1.49% to close lower at 3900. Malaysian palm oil futures experienced their third consecutive weekly decline as the market retreated on Friday following two days of gains, mirroring the weakness seen in competing vegetable oils.

Overnight Soybean oil Dec Month added 0.01 to 44.38. Soybean oil Futures closed slightly higher. Dalian’s active palm oil contract rose 18 to 7708 at Friday night session.

Tracking the mildly bullish performance in Dalian palm oils and Soybean oil markets, palm prices are anticipated to trade in range bound, with slight upside bias and within the range of previous session. The immediate support and resistance levels are pinpointed at 3885 and 3945, respectively.

(News Source: Reuters)

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Market Mover
Settlement Rates
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USD 4.365379 4.399660
EUR 4.721747 4.726400
CNY 0.610888 0.611480
HKD 0.561824 0.565730
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