FCPO
FCPO 3rd Month Futures (PM) - 24 June 2024
Mon, 24-Jun-2024 01:39 pm
by Dealing Team • Apex Futures

FCPO
Pivot
3900
Resistance
3941 / 3960 / 3979 / 3996
Support
3890 / 3872 / 3865 / 3849
Possible Range
3870 to 3960
Strategy
Long positions may be opened above 3910 with targets at 3941/3960 stop-loss at 3885
Short positions may be opened below 3910 with targets at 3890/3872 stop-loss at 3935

FCPO Sept month rose 12 points or 0.31% to 3912 closed higher at midday. Malaysian palm oil futures edged higher on Monday within a trading range following sharp losses in the previous session. However, ongoing weakness in crude oil and competing edible oils limited the gains.

Traders are awaiting estimates for exports during June 1-25 due Tuesday.

The palm oil prices are expected to trade in sideway range, with potential upside bias with limited gains. Immediate support and resistance levels are identified at 3890 and 3941, 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