FCPO
FCPO 3rd Month Futures (PM) - 3 Sep 2024
Tue, 03-Sep-2024 01:58 pm
by Dealing Team • Apex Futures

FCPO
Pivot
3956
Resistance
3984 / 4003 / 4016 / 4028
Support
3956 / 3944 / 3931 / 3908
Possible Range
3930 to 4010
Strategy
Long positions may be opened above 3965 with targets 3984/4003 at stop-loss at 3945
Short positions may be opened below 3965 with targets at 3956/3944 stop-loss at 3985

FCPO Nov month rose 45 points or 1.14% to 3978 closed higher at midday. Malaysian palm oil futures opened higher on Tuesday, marking a fourth consecutive session of gains, driven by the continued decline of the Malaysian ringgit, the currency in which palm oil is traded.

The palm oil futures likely to continue trading in upside bias. The immediate support and resistance levels are identified at 3956 and 3984, 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