FCPO
FCPO 3rd Month Futures (PM) - 14 August 2024
Wed, 14-Aug-2024 01:50 pm
by Dealing Team • Apex Futures

FCPO
Pivot
3677
Resistance
3697 / 3717 / 3729 / 3741
Support
3677 / 3665 / 3653 / 3633
Possible Range
3650 to 3750
Strategy
Long positions may be opened above 3695 with targets 3717/3729 at stop-loss at 3675
Short positions may be opened below 3695 with targets at 3677/3665 stop-loss at 3715

FCPO Oct month rose 3 points or 0.08% to 3693 closed slightly higher at midday. Malaysian palm oil futures declined for the third straight session on Wednesday, reaching their lowest level in over seven months. The drop was driven by weak export data and pressure on competing Dalian oils from a forecasted record U.S. soybean harvest.

The palm oil futures likely to trade in sideway consolidation with upside bias. The immediate support and resistance levels are identified at 3677 and 3697, respectively. 

(News Source: Reuters)

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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