FCPO
FCPO 3rd Month Futures - 6 Sep 2024
Fri, 06-Sep-2024 08:18 am
by Dealing Team • Apex Futures

FCPO
Pivot
3934
Resistance
3955 / 3974 / 3995 / 4013
Support
3925 / 3910 / 3890 / 3872
Possible Range
3910 to 4010
Strategy
Long positions may be opened above 3935 with targets 3955/3974 at stop-loss at 3915
Short positions may be opened below 3935 with targets at 3925/3910 stop-loss at 3955

FCPO Nov month rose 31 points or 0.80 % to close higher at 3917. Malaysia crude palm oil futures rebounded on Thursday due to the stronger performance in the soybean oil market during Asian trading hours, according to palm oil trader David Ng. He also noted that the rebound in the crude oil market contributed to the price rise.

Overnight Soybean oil Dec Month rose 1.01 to close higher at 41.17. Dalian’s active palm oil contract rose 142 points to close higher at 7986 on previous night session.

Tracking positive performance in rival edible oil, palm prices could continue in upside in the sideway consolidation. The immediate support and resistance levels are pinpointed at 3925 and 3955, respectively.

(News Source: Bernama)

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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