FCPO
FCPO 3rd Month Futures - 4 July 2024
Thu, 04-Jul-2024 08:18 am
by Dealing Team • Apex Futures

FCPO
Pivot
406
Resistance
4135 / 4149 / 4176 / 4202
Support
4083 / 4070 / 4056 / 4043
Possible Range
4030 to 4150
Strategy
Long positions may be opened above 4095 with targets at 4135/4149 stop-loss at 4070
Short positions may be opened below 4095 with targets at 4083/4070 stop-loss at 4120

FCPO Sep month dropped 7 points or 0.17 % to close moderately lower at 4082. Malaysian palm oil futures fell on Wednesday, breaking a streak of five consecutive sessions of increases, likely due to profit-taking by market participants.

Overnight Soybean oil Dec Month rose 1.19 to 47.91. Soybean oil Futures closed higher. Dalian’s active palm oil contract rose 50 to 8044 at previous night session.

Tracking positive performance in Dalian palm oils and Soybean oil markets, palm prices likely to remain in upside bias, beware of profit taking activities. The immediate support and resistance levels are pinpointed at 4083 and 4135, 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