FCPO
FCPO 3rd Month Futures - 3 Oct 2024
Thu, 03-Oct-2024 08:24 am
by Dealing Team • Apex Futures

FCPO
Pivot
4147
Resistance
4172 / 4190 / 4207 / 4226
Support
4133 / 4115 / 4095 / 4077
Possible Range
4120 to 4220
Strategy
Long positions may be opened above 4135 with targets 4150/4172 at stop-loss at 4115
Short positions may be opened below 4135 with targets at 4115/4095 stop-loss at 4155

FCPO Dec month contract surged 190 points 4.74% to close higher at 4196. Malaysia's crude palm oil futures rose on Wednesday, driven by escalating tensions in the Middle East, said a dealer.

Overnight Soybean oil Dec Month rose 0.73 to close higher at 43.64. Dalian market remains closed for the National Day Golden Week.

Tracking bullish performance in rival edible oil, palm prices potentially trading within a range, supported above 4130 to 4135 could potentially provide buying opportunity. The immediate support and resistance levels are pinpointed at 4133 and 4172, 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 3.936314 3.967989
EUR 4.615974 4.625491
CNY 0.577616 0.578239
HKD 0.502266 0.506322
SGD 3.083269 3.108163