FCPO
FCPO 3rd Month Futures - 8 Aug 2024
Thu, 08-Aug-2024 08:19 am
by Dealing Team • Apex Futures

FCPO
Pivot
3736
Resistance
3754 / 3769 / 3785 / 3801
Support
3724 / 3705 / 3690 / 3666
Possible Range
3680 to 3780
Strategy
Long positions may be opened above 3728 with targets 3754/3769 at stop-loss at 3708
Short positions may be opened below 3728 with targets at 3705/3690 stop-loss at 3748

FCPO Oct month dropped 8 points or 0.22% to close lower at 3697. Malaysia's crude palm oil futures closed with mixed results on Wednesday. Prices were pressured by worries about increased production, even though crude oil prices were higher.

The Malaysian Palm Oil Board, the industry regulator, is set to release its monthly palm oil data on August 12.

Overnight Soybean oil Dec Month rose 0.92 to close higher at 40.88. Dalian’s active palm oil contract rose 26 points to close higher at 7610 on previous night session.

Tracking bullish performance in Soybean Oil and Dalian palm oils, palm prices expected to remain in upside bias trading with technical buying. The immediate support and resistance levels are pinpointed at 3724 and 3754, 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