FCPO
FCPO 3rd Month Futures - 22 Aug 2024
Thu, 22-Aug-2024 08:19 am
by Dealing Team • Apex Futures

FCPO
Pivot
3763
Resistance
3781 / 3798 / 3817 / 3834
Support
3743 / 3730 / 3716 / 3700
Possible Range
3700 to 3800
Strategy
Long positions may be opened above 3760 with targets 3781/3798 at stop-loss at 3740
Short positions may be opened below 3760 with targets at 3743/3730 stop-loss at 3780

FCPO Nov month rose 39 points or 0.1.05% to close higher at 3754. Malaysian palm oil futures rose on Wednesday, supported by expectations of reduced supply from Indonesia, the world's largest producer. However, sluggish export figures capped the increase.

Overnight Soybean oil Dec Month rose 0.38 to close higher at 39.58. Dalian’s active palm oil contract rose 28 points to close higher at 7682 on previous night session.

Tracking positive performance in rival edible oil, palm prices potentially consolidate in an upward channel. The immediate support and resistance levels are pinpointed at 3743 and 3781, respectively.

(News Source: Reuters)

Read more details in:

Disclaimer

The report is for internal and private circulation only and shall not be reproduced either in part or otherwise without the prior written consent of Apex Securities Berhad. The opinions and information contained herein are based on available data believed to be reliable. It is not to be construed as an offer, invitation or solicitation to buy or sell the securities covered by this report.

Opinions, estimates and projections in this report constitute the current judgment of the author. They do not necessarily reflect the opinion of Apex Securities Berhad and are subject to change without notice. Apex Securities Berhad has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

Apex Securities Berhad does not warrant the accuracy of anything stated herein in any manner whatsoever and no reliance upon such statement by anyone shall give rise to any claim whatsoever against Apex Securities Berhad. Apex Securities Berhad may from time to time have an interest in the company mentioned by this report. This report may not be reproduced, copied or circulated without the prior written approval of Apex Securities Berhad.

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