FCPO
FCPO 3rd Month Futures - 12 Sep 2024
Thu, 12-Sep-2024 08:19 am
by Dealing Team • Apex Futures

FCPO
Pivot
3877
Resistance
3884 / 3902 / 3919 / 3937
Support
3856 / 3838 / 3819 / 3801
Possible Range
3840 to 3940
Strategy
Long positions may be opened above 3870 with targets 3884/3902 at stop-loss at 3850
Short positions may be opened below 3870 with targets at 3856/3838 stop-loss at 3890

FCPO Nov month rose 16 points or 0.41% to close higher at 3901. Malaysia's crude palm oil futures rose on Wednesday, buoyed by bargain hunting after three consecutive days of declines. According to a palm oil analyst, the increase was also supported by a stronger ringgit and some profit-taking ahead of USDA data.

Overnight Soybean oil Dec Month dropped 0.33 to close lower at 39.30. Dalian’s active palm oil contract dropped 6 points to close lower at 7816 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 3884, respectively.

(News Source: Bernama)

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 4.389719 4.419319
EUR 4.730753 4.734314
CNY 0.613618 0.614097
HKD 0.564733 0.568558
SGD 3.307640 3.330253