FCPO
FCPO 3rd Month Futures - 27 June 2024
Thu, 27-Jun-2024 08:28 am
by Dealing Team • Apex Futures

FCPO
Pivot
3867
Resistance
3887 / 3905 / 3918 / 3931
Support
3855 / 3841 / 3822 / 3803
Possible Range
3850 to 3940
Strategy
Long positions may be opened above 3865 with targets at 3887/3905 stop-loss at 3840
Short positions may be opened below 3865 with targets at 3855/3841 stop-loss at 3890

Sep month gained 20 points or 0.52% to close higher at 3879. Malaysian palm oil futures recorded gains on Wednesday as the world's second-largest producer anticipated reduced production. However, worries persisted about declining June exports, causing the contract to remain near six-week lows.

Traders and analysts noted that the Malaysian Palm Oil Association forecasted a 6.3% decrease in production from a year ago for the period spanning June 1-20.

Overnight Soybean oil Dec Month rose 0.83 to 43.65. Soybean oil Futures closed higher. Dalian’s active palm oil contract rose 46 to 7622 at yesterday night session.

Tracking bullish performance in Dalian palm oils and Soybean oil markets, palm prices likely to remain to trade higher. The immediate support and resistance levels are pinpointed at 3855 and 3887, respectively.

(News Source: Resuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.186344 4.224837
EUR 4.692802 4.707788
CNY 0.594564 0.595974
HKD 0.537155 0.542118
SGD 3.243708 3.273864