FCPO
FCPO 3rd Month Futures - 2 Sep 2024
Mon, 02-Sep-2024 08:16 am
by Dealing Team • Apex Futures

FCPO
Pivot
3970
Resistance
3990 / 4009 / 4025 / 4041
Support
3954 / 3938 / 3919 / 3899
Possible Range
3930 to 4030
Strategy
Long positions may be opened above 3970 with targets 3990/4009 at stop-loss at 3950
Short positions may be opened below 3970 with targets at 3954/3938 stop-loss at 3990

FCPO Nov month rose 37 points or 0.94% to higher at 3977. Malaysia's crude palm oil futures continued to rise and ended higher on Friday, following gains in the soybean oil market on the CBOT. A palm oil trader noted that stronger crude oil prices also influenced market sentiment.

Overnight Soybean oil Dec Month dropped 0.12 to close lower at 42.01. Dalian’s active palm oil contract dropped 90 points to close lower at 7958 on previous night session.

Tracking negative performance in rival edible oil, palm prices could trade lower on further profit taking. 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