FCPO
FCPO 3rd Month Futures - 1 Aug 2024
Thu, 01-Aug-2024 08:41 am
by Dealing Team • Apex Futures

FCPO
Pivot
3915
Resistance
3929 / 3942 / 3955 / 3975
Support
3889 / 3875 / 3855 / 3835
Possible Range
3860 to 3960
Strategy
Long positions may be opened above 3915 with targets 3929/3942 at stop-loss at 3895
Short positions may be opened below 3915 with targets at 3889/3875 stop-loss at 3935

FCPO Oct month dropped 7 points or 0.18% to close lower at 3908. Malaysia palm oil futures declined as a stronger ringgit dampened export demand, which also affected market sentiment, according to a trader.

Overnight Soybean oil Dec Month rose 0.42 to close higher at 42.32. Dalian’s active palm oil contract unchanged at 7828 on previous night session.

Tracking mixed performance in Soybean Oil and Dalian palm oils, palm prices likely to remain to trade in sideway consolidation with downside bias. The immediate support and resistance levels are pinpointed at 3889 and 3929, 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