FCPO
FCPO 3rd Month Futures - 30 Aug 2024
Fri, 30-Aug-2024 08:16 am
by Dealing Team • Apex Futures

FCPO
Pivot
3952
Resistance
3972 / 3990 / 4010 / 4029
Support
3943 / 3926 / 3908 / 3890
Possible Range
3930 to 4030
Strategy
Long positions may be opened above 3955 with targets 3972/3990 at stop-loss at 3935
Short positions may be opened below 3955 with targets at 3943/3926 stop-loss at 3975

FCPO Nov month rose 20 points or 0.51% to higher at 3940. Malaysian crude palm oil futures rebounded from two days of losses to close higher on Thursday, supported by stronger soybean oil prices during Asian trading hours. Traders noted that concerns about recent declines in palm oil production also contributed to the shift in market sentiment.


Overnight Soybean oil Dec Month rose 1.41 to close higher at 42.13. Dalian’s active palm oil contract rose 44 points to close higher at 8018 on previous night session.


Tracking positive performance in rival edible oil, palm prices could continue to trading in upward trend. The immediate support and resistance levels are pinpointed at 3943 and 3972, 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