FCPO
FCPO 3rd Month Futures - 15 July 2024
Mon, 15-Jul-2024 08:24 am
by Dealing Team • Apex Futures

FCPO
Pivot
3938
Resistance
3953 / 3967 / 3994 / 4020
Support
3912 / 3885 / 3871 / 3856
Possible Range
3860 to 3980
Strategy
Long positions may be opened above 3930 with targets at 3953/3967 stop-loss at 3905
Short positions may be opened below 3930 with targets at 3912/3885 stop-loss at 3955

FCPO Sep month declined 20 points or 0.51% to close lower at 3915. Malaysian palm oil futures closed lower on Friday due to expectations of increased inventories in June, which exerted downward pressure on prices and interrupted two weeks of consecutive gains for the contract.

Overnight Soybean oil Dec Month dropped 0.56 to close lower at 45.59. Dalian’s active palm oil contract dropped 38 to 7716 at previous night session.

Tracking negative performance in Soybean Oil and Dalian palm oils, palm prices could trade lower. The immediate support and resistance levels are pinpointed at 3912 and 3953, respectively.

(News Source: Reuters)

Read more details in:

Disclaimer

The report is for internal and private circulation only and shall not be reproduced either in part or otherwise without the prior written consent of Apex Securities Berhad. The opinions and information contained herein are based on available data believed to be reliable. It is not to be construed as an offer, invitation or solicitation to buy or sell the securities covered by this report.

Opinions, estimates and projections in this report constitute the current judgment of the author. They do not necessarily reflect the opinion of Apex Securities Berhad and are subject to change without notice. Apex Securities Berhad has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

Apex Securities Berhad does not warrant the accuracy of anything stated herein in any manner whatsoever and no reliance upon such statement by anyone shall give rise to any claim whatsoever against Apex Securities Berhad. Apex Securities Berhad may from time to time have an interest in the company mentioned by this report. This report may not be reproduced, copied or circulated without the prior written approval of Apex Securities Berhad.

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