FCPO
FCPO 3rd Month Futures - 27 Aug 2024
Tue, 27-Aug-2024 08:21 am
by Dealing Team • Apex Futures

FCPO
Pivot
3937
Resistance
3955 / 3974 / 3991 / 4010
Support
3921 / 3903 / 3882 / 3864
Possible Range
3860 to 3960
Strategy
Long positions may be opened above 3935 with targets 3955/3974 at stop-loss at 3915
Short positions may be opened below 3935 with targets at 3921/3903 stop-loss at 3955

FCPO Nov month rose 57 points or 1.47% to close higher at 3924. Malaysia's crude palm oil futures closed higher on Monday due to anticipated slower production in the country, with stronger crude oil prices also boosting the positive sentiment, according to a palm oil trader.

Overnight Soybean oil Dec Month rose 0.37 to close higher at 40.75. Dalian’s active palm oil contract rose 100 points to close higher at 8038 on previous night session.

Tracking positive performance in rival edible oil, palm prices potentially trade in upside momentum, however beware of potential further technical correction. The immediate support and resistance levels are pinpointed at 3921 and 3955, 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