FCPO
FCPO 3rd Month Futures (PM) - 6 August 2024
Tue, 06-Aug-2024 02:07 pm
by Dealing Team • Apex Futures

FCPO
Pivot
3756
Resistance
3774 / 3791 / 3808 / 3824
Support
3740 / 3723 / 3706 / 3688
Possible Range
3720 to 3820
Strategy
Long positions may be opened above 3760 with targets 3774/3791 at stop-loss at 3740
Short positions may be opened below 3760 with targets at 3740/3723 stop-loss at 3780

FCPO Oct month down 28 points or 0.79% to 3759 closed lower at midday. Malaysian palm oil futures continued to decline on Tuesday, following a six-month low closure in the previous session, influenced by the weakness in rival Dalian and Chicago contracts.

The palm oil futures likely remain in downward bias, with the immediate support and resistance levels are identified at 3740 and 3774, respectively. 

(News Source: Reuters)

Read more details in:

Disclaimer

The report is for internal and private circulation only and shall not be reproduced either in part or otherwise without the prior written consent of Apex Securities Berhad. The opinions and information contained herein are based on available data believed to be reliable. It is not to be construed as an offer, invitation or solicitation to buy or sell the securities covered by this report.

Opinions, estimates and projections in this report constitute the current judgment of the author. They do not necessarily reflect the opinion of Apex Securities Berhad and are subject to change without notice. Apex Securities Berhad has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

Apex Securities Berhad does not warrant the accuracy of anything stated herein in any manner whatsoever and no reliance upon such statement by anyone shall give rise to any claim whatsoever against Apex Securities Berhad. Apex Securities Berhad may from time to time have an interest in the company mentioned by this report. This report may not be reproduced, copied or circulated without the prior written approval of Apex Securities Berhad.

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