FCPO
FCPO 3rd Month Futures - 4 Oct 2024
Fri, 04-Oct-2024 08:24 am
by Dealing Team • Apex Futures

FCPO
Pivot
4208
Resistance
4225 / 4243 / 4262 / 4282
Support
4195 / 4177 / 4156 / 4137
Possible Range
4170 to 4270
Strategy
Long positions may be opened above 4205 with targets 4225/4243 at stop-loss at 4185
Short positions may be opened below 4205 with targets at 4195/4177 stop-loss at 4225

FCPO Dec month contract dropped 14 points 0.33% to close lower at 4182. Malaysian crude palm oil futures dropped on Thursday as investors took profits, and a decline in the Chicago soyoil contract contributed to the downturn.

Overnight Soybean oil Dec Month rose 0.89 to close higher at 44.53. Dalian market remains closed for the National Day Golden Week.

Tracking bullish performance in rival edible oil, palm prices potentially continue to trading higher if breaking above 4225 to 4230 , beware of any profit taking activities .The immediate support and resistance levels are pinpointed at 4195 and 4225, respectively.

(News Source: Reuters)

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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