FCPO
FCPO 3rd Month Futures (PM) - 4 Sep 2024
Wed, 04-Sep-2024 01:58 pm
by Dealing Team • Apex Futures

FCPO
Pivot
3909
Resistance
3922 / 3938 / 3961 / 3983
Support
3885 / 3864 / 3850 / 3835
Possible Range
3860 to 3960
Strategy
Long positions may be opened above 3905 with targets 3922/3938 at stop-loss at 3885
Short positions may be opened below 3905 with targets at 3885/3864 stop-loss at 3925

FCPO Nov month dropped 38 points or 0.97% to 3893 closed lower at midday Malaysian palm oil futures ended lower on Wednesday, tracking the losses in Soyoil and Dalian market, following news of China initiating an anti-dumping investigation into canola imports from Canada and a decline in India's palm oil imports.

The palm oil futures potentially trade in sideway consolidation with upside bias if the support above 3880 to 3885, else will trade lower. The immediate support and resistance levels are identified at 3885 and 3922, respectively. 

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.389719 4.419319
EUR 4.730753 4.734314
CNY 0.613618 0.614097
HKD 0.564733 0.568558
SGD 3.307640 3.330253