FCPO
FCPO 3rd Month Futures (PM) - 18 Sep 2024
Wed, 18-Sep-2024 02:17 pm
by Dealing Team • Apex Futures

FCPO
Pivot
3784
Resistance
3807 / 3825 / 3846 / 3861
Support
3784 / 3769 / 3753 / 3730
Possible Range
3750 to 3850
Strategy
Long positions may be opened above 3784 with targets 3807/3825 at stop-loss at 3764
Short positions may be opened below 3784 with targets at 3769/3753 stop-loss at 3804

FCPO Dec month rose 60 points or 1.71% to closed higher 3800 at 3715 at midday session. Malaysian palm oil futures climbed on Wednesday, supported by projections of increased exports from the world’s second-largest producer, along with rising prices in competing Dalian and Chicago markets.

The palm oil futures could likely remain in upside bias, beware of any sentiment changes. The immediate support and resistance levels are identified at 3784 and 3807, respectively. 

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 3.939538 3.966364
EUR 4.621065 4.624861
CNY 0.577624 0.578108
HKD 0.502626 0.506063
SGD 3.082334 3.103499