FCPO
FCPO 3rd Month Futures (PM) - 29 Aug 2024
Thu, 29-Aug-2024 02:02 pm
by Dealing Team • Apex Futures

FCPO
Pivot
3900
Resistance
3917 / 3936 / 3952 / 3969
Support
3886 / 3870 / 3854 / 3836
Possible Range
3850 to 3950
Strategy
Long positions may be opened above 3900 with targets 3917/3936 at stop-loss at 3880
Short positions may be opened below 3990 with targets at 3886/3870 stop-loss at 3920

FCPO Nov month dropped 11 points or 0.28% to 3909 closed lower at midday. Malaysian palm oil futures were set for a third consecutive day of declines on Thursday, pressured by concerns over demand due to the potential for higher import taxes in India, the world's largest vegetable oil importer. 

The palm oil futures likely to trade in upside bias in the downward channel. The immediate support and resistance levels are identified at 3886 and 3917, 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