FCPO
FCPO 3rd Month Futures - 25 July 2024
Thu, 25-Jul-2024 08:30 am
by Dealing Team • Apex Futures

FCPO
Pivot
3938
Resistance
3932 / 3948 / 3963 / 3977
Support
3901 / 3884 / 3868 / 3849
Possible Range
3870 to 3960
Strategy
Long positions may be opened above 3935 with targets at 3948/3963 stop-loss at 3915
Short positions may be opened below 3935 with targets at 3901/3884 stop-loss at 3955

FCPO Oct month dropped 44 points or 1.11% to close lower at 3925. Bursa Malaysia palm oil futures sustained declines on Wednesday, influenced by anticipated rises in output expected in the weeks ahead.

Overnight Soybean oil Dec Month dropped 1.03 to close lower at 44.10. Dalian’s active palm oil contract declined 82 points to close almost lower at 7778 on previous night session.

Tracking bearish performance in Soybean Oil and Dalian palm oils, palm prices could potential to trade in sideway consolidation with downside bias. The immediate support and resistance levels are pinpointed at 3901 and 3932, 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