FCPO
FCPO 3rd Month Futures - 17 July 2024
Wed, 17-Jul-2024 08:23 am
by Dealing Team • Apex Futures

FCPO
Pivot
3933
Resistance
3958 / 3975 / 3996 / 4017
Support
3925 / 3907 / 3885 / 3868
Possible Range
3900 to 4000
Strategy
Long positions may be opened above 3935 with targets at 3958/3975 stop-loss at 3910
Short positions may be opened below 3935 with targets at 3925/3907 stop-loss at 3960

FCPO Oct month rose 30 points or 0.77% to close higher at 3925. Malaysia crude palm oil futures ended Tuesday with gains, driven by the stronger performance of soybean oil on the CBOT. The increase was bolstered by better-than-expected export figures, indicating improved demand and favorable trading conditions for palm oil products.

Overnight Soybean oil Dec Month rose 0.03 to close higher at 44.94. Dalian’s active palm oil contract rose 96 to 7862 at previous night session.

Tracking bullish performance in Soybean Oil and Dalian palm oils, palm prices could trade in upside bias. The immediate support and resistance levels are pinpointed at 3925 and 3958, respectively.

(News Source: Bernama)

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