FCPO
FCPO 3rd Month Futures (PM) - 1 July 2024
Mon, 01-Jul-2024 02:00 pm
by Dealing Team • Apex Futures

FCPO
Pivot
3980
Resistance
3993 / 4006 / 4025 / 4048
Support
3971 / 3948 / 3935 / 3913
Possible Range
3950 to 4040
Strategy
Long positions may be opened above 3975 with targets at 3993/4006 stop-loss at 3950
Short positions may be opened below 3975 with targets at 3948/3935 stop-loss at 4000

FCPO Sept month rose 71 points or 1.81% to 3987 closed higher at midday. Malaysian palm oil futures increased on Monday, marking their fourth consecutive session of gains. This rise was driven by concerns over low production and the upward trend in rival edible oils.

The palm oil prices are likely to continue in upward movement. Immediate support and resistance levels are identified at 3971 and 3993, respectively.

(News Source: Reuters)

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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