FCPO
FCPO 3rd Month Futures (PM) - 5 Sep 2024
Thu, 05-Sep-2024 02:05 pm
by Dealing Team • Apex Futures

FCPO
Pivot
3868
Resistance
3882 / 3901 / 3919 / 3935
Support
3854 / 3840 / 3826 / 3806
Possible Range
3840 to 3940
Strategy
Long positions may be opened above 3868 with targets 3882/3901 at stop-loss at 3848
Short positions may be opened below 3868 with targets at 3854/3840 stop-loss at 3888

FCPO Nov month dropped 20 points or 0.51% to 3866 closed lower at midday. Malaysian palm oil futures extended losses for a fourth consecutive session on Wednesday, following a decline in rival vegetable oil prices, reduced palm oil imports by India, and expectations of higher stock levels.

The palm oil futures potentially to remain in upside bias if the break above 3880 to 3885, else will trade lower. The immediate support and resistance levels are identified at 3854 and 3882, respectively. 

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.283853 4.317705
EUR 4.765844 4.774924
CNY 0.605865 0.606556
HKD 0.549396 0.553768
SGD 3.299365 3.325824