FCPO
FCPO 3rd Month Futures - 2 Aug 2024
Fri, 02-Aug-2024 08:28 am
by Dealing Team • Apex Futures

FCPO
Pivot
3884
Resistance
3884 / 3903 / 3921 / 3941
Support
3856 / 3835 / 3817 / 3802
Possible Range
3830 to 3930
Strategy
Long positions may be opened above 3870 with targets 3884/3903 at stop-loss at 3850
Short positions may be opened below 3870 with targets at 3856/3835 stop-loss at 3890

FCPO Oct month dropped 38 points or 0.97% to close lower at 3870. Malaysia palm oil futures closed lower on Thursday, with prices pressured by a stronger ringgit and expectations of increased production in the weeks ahead.

Overnight Soybean oil Dec Month down 0.78 to close lower at 41.45. Dalian’s active palm oil contract rose 48 points to close higher at 7852 on previous night session.

Tracking mixed performance in Soybean Oil and Dalian palm oils, palm prices likely to remain in downward bias trading with some technical buying, however upside could be limited. The immediate support and resistance levels are pinpointed at 3856 and 3884, 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