FCPO
FCPO 3rd Month Futures - 29 July 2024
Mon, 29-Jul-2024 08:25 am
by Dealing Team • Apex Futures

FCPO
Pivot
3940
Resistance
3925 / 3956 / 3971 / 3986
Support
3910 / 3895 / 3878 / 3860
Possible Range
3850 to 3950
Strategy
Long positions may be opened above 3925 with targets 3956/3971 at stop-loss at 3905
Short positions may be opened below 3925 with targets at 3910/3895 stop-loss at 3945

FCPO Oct month rose 24 points or 0.61% to close higher at 3942. Malaysian palm oil futures recovered some of the losses from earlier in the week and ended a three-day decline on Friday session, buoyed by strong export data and an increase in other oil markets.

Overnight Soybean oil Dec Month down 2.34 to close lower at 41.83. Dalian’s active palm oil contract dropped 24 points to close lower at 7804 on previous night session.

Tracking bearish performance in Soybean Oil and Dalian palm oils, palm prices likely to open lower and trade at the bottom of the sideway consolidation. The immediate support and resistance levels are pinpointed at 3910 and 3925, 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