FCPO
FCPO 3rd Month Futures - 28 June 2024
Fri, 28-Jun-2024 08:22 am
by Dealing Team • Apex Futures

FCPO
Pivot
3887
Resistance
3917 / 3931 / 3944 / 3971
Support
3875 / 3859 / 3837 / 3816
Possible Range
3860 to 3950
Strategy
Long positions may be opened above 3890 with targets at 3917/3931 stop-loss at 3865
Short positions may be opened below 3890 with targets at 3875/3859 stop-loss at 3915

Sep month gained 11 points or 0.29% to close higher at 3890. Bursa Malaysia's crude palm oil futures closed higher on Thursday due to concerns about anticipated lower palm oil production in the future.

Overnight Soybean oil Dec Month dropped 0.09 to 43.56. Soybean oil Futures closed lower. Dalian’s active palm oil contract rose 34 to 7646 at yesterday night session.

Tracking mixed performance in Dalian palm oils and Soybean oil markets, palm prices likely to remain in range bound trading, upside bias are possible but gain seems limit. The immediate support and resistance levels are pinpointed at 3875 and 3917, respectively.

(News Source: Bernama)

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Market Mover
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EUR 4.692802 4.707788
CNY 0.594564 0.595974
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