FCPO
FCPO 3rd Month Futures - 11 Sep 2024
Wed, 11-Sep-2024 08:19 am
by Dealing Team • Apex Futures

FCPO
Pivot
3873
Resistance
3888 / 3900 / 3916 / 3933
Support
3856 / 3838 / 3819 / 3801
Possible Range
3840 to 3940
Strategy
Long positions may be opened above 3875 with targets 3888/3900 at stop-loss at 3855
Short positions may be opened below 3875 with targets at 3856/3838 stop-loss at 3895

FCPO Nov month dropped 10 points or 0.26% to close lower at 3885. Malaysia's crude palm oil futures fell on Tuesday due to increasing stock levels in the country, according to a palm oil trader. They also noted that weaker export figures contributed to the negative market sentiment.

Overnight Soybean oil Dec Month dropped 0.85 to close lower at 39.63. Dalian’s active palm oil contract dropped 80 points to close lower at 7788 on previous night session.

Tracking negative performance in rival edible oil, palm prices likely to remain in sideway consolidation with downside bias. The immediate support and resistance levels are pinpointed at 3856 and 3888, respectively.

(News Source: Bernama)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.226942 4.260444
EUR 4.723982 4.728876
CNY 0.598324 0.598990
HKD 0.542537 0.546362
SGD 3.269503 3.292710