FCPO
FCPO 3rd Month Futures - 2 July 2024
Tue, 02-Jul-2024 08:29 am
by Dealing Team • Apex Futures

FCPO
Pivot
4000
Resistance
4020 / 4041 / 4053 / 4064
Support
3989 / 3975 / 3954 / 3932
Possible Range
3960 to 4060
Strategy
Long positions may be opened above 4005 with targets at 4020/4041 stop-loss at 3980
Short positions may be opened below 4005 with targets at 3989/3975 stop-loss at 4030

FCPO Sep month surged 63 points or 1.61% to close higher at 3979. Bursa Malaysia palm oil futures rose on expectations of lower-than-forecasted palm oil production, as reported by a palm oil trader. Additionally, increased soybean oil prices on the CBOT also boosted market sentiment.

Overnight Soybean oil Dec Month 1.96 to 45.75. Soybean oil Futures closed higher. Dalian’s active palm oil contract rose 108 to 7888 at previous night session.

Tracking strong performance in Dalian palm oils and Soybean oil markets, palm prices likely to remain firmer. The immediate support and resistance levels are pinpointed at 3989 and 4020, respectively.

(News Source: Bernama)

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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