FCPO
FCPO 3rd Month Futures (PM) - 21 August 2024
Wed, 21-Aug-2024 01:58 pm
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 17 points or 0.46% to 3732 closed moderately higher at midday. Malaysian palm oil futures rebounded on Wednesday, supported by stronger performance in rival Dalian and Chicago edible oil contracts. However, the recovery was tempered by weak export data and a stronger ringgit, which limited the extent of the gains.

The palm oil futures remain to trade in sideway consolidation with upside bias, beware of any sentiment changes. The immediate support and resistance levels are identified at 3714 and 3750, 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