FCPO
FCPO 3rd Month Futures - 21 Aug 2024
Wed, 21-Aug-2024 08:19 am
by Dealing Team • Apex Futures

FCPO
Pivot
3732
Resistance
3750 / 3768 / 3786 / 3804
Support
3714 / 3696 / 3678 / 3660
Possible Range
3690 to 3790
Strategy
Long positions may be opened above 3730 with targets 3750/3768 at stop-loss at 3710
Short positions may be opened below 3730 with targets at 3714/3696 stop-loss at 3750

FCPO Nov month rose 18 points or 0.48% to close higher at 3733. Malaysia’s crude palm oil futures ended mixed, reflecting the downward trend seen in the CBOT soyoil market. Additionally, there are rising concerns about the slow pace of exports, according to a palm oil trade

Overnight Soybean oil Dec Month rose 0.12 to close higher at 39.02. Dalian’s active palm oil contract rose 76 points to close higher at 7668 on previous night session.

Tracking positive performance in rival edible oil, palm prices potentially trade higher within the sideway consolidation range. The immediate support and resistance levels are pinpointed at 3714 and 3750, respectively.

(News Source: Reuters)

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Market Mover
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