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

FCPO
Pivot
4006
Resistance
4030 / 4045 / 4065 / 4084
Support
3991 / 3972 / 3951 / 3934
Possible Range
3970 to 4070
Strategy
Long positions may be opened above 4010 with targets 4030/4045 at stop-loss at 3990
Short positions may be opened below 4010 with targets at 3991/3972 stop-loss at 4030

FCPO Dec month contract rose 30 points 0.76% to close higher at 3977. Malaysian crude palm oil futures climbed for the fourth straight session on Monday, supported by increases in competing edible oils. However, the market continued to face risks due to concerns over production, exacerbated by adverse weather conditions in the world’s second-largest producer.

Overnight Soybean oil Dec Month rose 0.48 to close higher at 41.84. Dalian’s active palm oil contract rose 78 points to close higher at 8288 on previous night session.

Tracking positive performance in rival edible oil, palm prices likely to continue trading in upward momentum. The immediate support and resistance levels are pinpointed at 3991 and 4030, 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