FCPO
FCPO 3rd Month Futures - 20 Aug 2024
Tue, 20-Aug-2024 08:21 am
by Dealing Team • Apex Futures

FCPO
Pivot
3718
Resistance
3741 / 3760 / 3777 / 3793
Support
3703 / 3689 / 3670 / 3655
Possible Range
3670 to 3770
Strategy
Long positions may be opened above 3720 with targets 3741/3760 at stop-loss at 3700
Short positions may be opened below 3720 with targets at 3703/3689 stop-loss at 3740

FCPO Nov month rose 40 points or 1.09% to close higher at 3721. Malaysia's crude palm oil futures ended higher on Monday due to anticipated strong demand leading up to the Deepavali festival, according to a senior analyst.

Overnight Soybean oil Dec Month rose 0.41 to close higher at 39.08. Dalian’s active palm oil contract rose 38 points to close higher at 7568 on previous night session.

Tracking positive performance in rival edible oil, palm prices potentially trade higher. The immediate support and resistance levels are pinpointed at 3703 and 3741, 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