FCPO
FCPO 3rd Month Futures - 9 July 2024
Tue, 09-Jul-2024 08:34 am
by Dealing Team • Apex Futures

FCPO
Pivot
4055
Resistance
4066 / 4076 / 4094 / 4111
Support
4020 / 4010 / 3999 / 3971
Possible Range
4000 to 4100
Strategy
Long positions may be opened above 4045 with targets at 4066/4076 stop-loss at 4020
Short positions may be opened below 4045 with targets at 4020/4010 stop-loss at 4070

FCPO Sep month dropped 25 points or 0.61 % to close lower at 4042. Malaysian crude palm oil futures concluded their strongest week in five, despite Friday's price decline as traders opted to secure profits before a prolonged weekend.

MPOB is set to publish a palm oil supply and demand report on July 10, and market participants will eagerly anticipate the report for further trading insights.

Overnight Soybean oil Dec Month dropped 0.44 to closed lower at 48.26. Dalian’s active palm oil contract dropped 70 to 7858 at previous night session.

Tracking negative performance in Soybean Oil and Dalian palm oils, palm prices likely to trading in sideway consolidation with downside bias. The immediate support and resistance levels are pinpointed at 4020 and 4066, 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