FCPO
FCPO 3rd Month Futures - 20 Sep 2024
Fri, 20-Sep-2024 08:24 am
by Dealing Team • Apex Futures

FCPO
Pivot
3897
Resistance
3916 / 3934 / 3952 / 3970
Support
3875 / 3857 / 3840 / 3822
Possible Range
3850 to 3950
Strategy
Long positions may be opened above 3895 with targets 3916/3934 at stop-loss at 3875
Short positions may be opened below 3895 with targets at 3875/3857 stop-loss at 3915

FCPO Dec month contract rose 31 points 0.81% to close higher at 3876. Malaysian crude palm oil futures rose for the second consecutive session on Thursday, supported by stronger soyoil prices and production worries in the world's second-largest producer.

Overnight Soybean oil Dec Month rose 0.62 to close higher at 40.93. Dalian’s active palm oil contract rose 60 points to close higher at 8122 on previous night session.

Tracking positive performance in rival edible oil, palm prices likely to trading in sideway consolidation, seems supported, beware of any technical selling. The immediate support and resistance levels are pinpointed at 3875 and 3916, 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