FCPO
FCPO 3rd Month Futures (PM) - 15 August 2024
Thu, 15-Aug-2024 01:45 pm
by Dealing Team • Apex Futures

FCPO
Pivot
3732
Resistance
3752 / 3765 / 3778 / 3791
Support
3719 / 3699 / 3685 / 3668
Possible Range
3680 to 3780
Strategy
Long positions may be opened above 3735 with targets 3752/3765 at stop-loss at 3715
Short positions may be opened below 3735 with targets at 3719/3699 stop-loss at 3755

FCPO Oct month rose 15 points or 0.40% to 3738 closed higher at midday. Malaysian palm oil futures strengthened on Thursday for the second consecutive session, supported by tighter inventories and bargain buying following the contract's drop to a seven-month low in the previous session. 

The palm oil futures likely to trade in sideway consolidation and continue in upside bias. The immediate support and resistance levels are identified at 3719 and 3752, respectively. 

(News Source: Reuters)

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Market Mover
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CNY 0.594564 0.595974
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