FCPO
FCPO 3rd Month Futures - 14 Aug 2024
Wed, 14-Aug-2024 08:40 am
by Dealing Team • Apex Futures

FCPO
Pivot
3681
Resistance
3705 / 3720 / 3739 / 3757
Support
3661 / 3647 / 3630 / 3613
Possible Range
3630 to 3730
Strategy
Long positions may be opened above 3685 with targets 3705/3720 at stop-loss at 3665
Short positions may be opened below 3685 with targets at 3661/3647 stop-loss at 3705

FCPO Oct month dropped 15 points or 0.41% to close lower at 3675. Malaysia palm oil futures closed lower on Tuesday, following the drop in soybean oil prices on the CBOT. Ongoing concerns about weak performance also contributed to the decline in crude palm oil prices, according to a trader.

Overnight Soybean oil Dec Month down 1.38 to close lower at 39.09. Dalian’s active palm oil contract dropped 100 points to close lower at 7394 on previous night session.

Tracking negative performance in rival edible oil, palm prices likely to remain in downside bias trading, breaking the bottom of consolidation at 3680 to 3675 could trigger further selling pressure. The immediate support and resistance levels are pinpointed at 3661 and 3705, 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