FCPO
FCPO 3rd Month Futures - 6 December 2023
Mon, 11-Dec-2023 09:31 am
by Dealing Team • Apex Futures

FCPO
Pivot
3793
Resistance
3811 / 3828 / 3852 / 3875
Support
3770 / 3746 / 3729 / 3711
Possible Range
3700 to 4000
Strategy
Long positions may be opened above 3820 with targets at 3828/3852 stop-loss at 3800
Short positions may be opened below 3790 with targets at 3770/3746 stop-loss at 3810

Following the bearish performance of soybean oil and dalian oil, the FCPO could trade lower. A break below 3758 (yesterday's low) would target 3746/3729 en route to 3711. On the flip side, the next resistance is located at 3793 (Pivot), followed by 3811 (R1), and finally 3840 (Yesterday’s high).

(News Source: Reuters)

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