FCPO
FCPO 3rd Month Futures - 12 July 2024
Fri, 12-Jul-2024 08:28 am
by Dealing Team • Apex Futures

FCPO
Pivot
3951
Resistance
3972 / 3991 / 4015 / 4043
Support
3936 / 3915 / 3894 / 3877
Possible Range
3910 to 4000
Strategy
Long positions may be opened above 3950 with targets at 3972/3991 stop-loss at 3925
Short positions may be opened below 3950 with targets at 3936/3915 stop-loss at 3975

FCPO Sep month rose 17 points or 0.43% to close higher at 3935. Malaysia palm oil futures reversed a five-day decline to finish higher on Thursday, supported by increased soybean oil prices and improved demand from India for the commodity.

Overnight Soybean oil Dec Month rose 0.57 to close higher at 46.15. Dalian’s active palm oil contract rose 72 to 7726 at previous night session.

Tracking positive performance in Soybean Oil and Dalian palm oils, palm prices likely to continue in upside bias movement. The immediate support and resistance levels are pinpointed at 3936 and 3972, 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