FCPO
FCPO 3rd Month Futures (PM) - 30 Aug 2024
Fri, 30-Aug-2024 02:07 pm
by Dealing Team • Apex Futures

FCPO
Pivot
3975
Resistance
3996 / 4013 / 4032 / 4046
Support
3975 / 3961 / 3947 / 3925
Possible Range
3930 to 4030
Strategy
Long positions may be opened above 3975 with targets 3996/4013 at stop-loss at 3955
Short positions may be opened below 3975 with targets at 3961/3947 stop-loss at 3995

FCPO Nov month rose 50 points or 1.27% to 3990 closed higher at midday. Malaysian palm oil futures climbed on Friday, poised for a second consecutive weekly gain, supported by a weakening ringgit, as traders anticipated upcoming announcements on export and
import taxes from Indonesia.
 
The palm oil futures likely to continue in upward trending, beware of any profit taking activities. he immediate support and resistance levels are identified at 3975 and 3996, 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