FCPO
FCPO 3rd Month Futures (PM) - 23 July 2024
Tue, 23-Jul-2024 02:02 pm
Apex Futures

FCPO
Pivot
3991
Resistance
4012 / 4025 / 4038 / 4052
Support
3978 / 3965 / 3948 / 3933
Possible Range
3950 to 4040
Strategy
Long positions may be opened above 3990 with targets at 4012/4025 stop-loss at 3970
Short positions may be opened below 3990 with targets at 3978/3965 stop-loss at 4010

FCPO Oct month rose 2 points or 0.05% to 3987 closed almost flat at midday. Malaysian palm oil futures increased on Tuesday for the sixth consecutive session, marking the market's longest rally since January, driven by strong exports in July.

Indonesia launched a trial of its palm oil-based biodiesel, known as B40, on a train on Monday, according to an energy ministry official quoted by CNN Indonesia.

The palm oil will trading in upside bias if supported above 3975 --3970 range. Immediate support and resistance levels are identified at 3978 and 4012, 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