FCPO
FCPO 3rd Month Futures - 18 July 2024
Thu, 18-Jul-2024 08:30 am
by Dealing Team • Apex Futures

FCPO
Pivot
3931
Resistance
3945 / 3968 / 3985 / 4011
Support
3907 / 3888 / 3869 / 3847
Possible Range
3860 to 3970
Strategy
Long positions may be opened above 3930 with targets at 3945/3968 stop-loss at 3905
Short positions may be opened below 3930 with targets at 3907/3888 stop-loss at 3955

FCPO Oct month rose 7 points or 0.18% to close higher at 3932. Malaysia crude palm oil futures ended Wednesday on a higher note, buoyed by increased soybean oil prices. Strong performance and positive market sentiment also added to the day's gains.

Overnight Soybean oil Dec Month dropped 0.95 to close lower at 43.99. Dalian’s active palm oil contract dropped 34 to 7840 at previous night session.

Tracking bearish performance in Soybean Oil and Dalian palm oils, palm prices could remain in sideway consolidation with downside bias. The immediate support and resistance levels are pinpointed at 3907 and 3945, 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