FCPO
FCPO 3rd Month Futures - 11 December 2023
Mon, 11-Dec-2023 11:13 am
by Dealing Team • Apex Futures

FCPO
Pivot
3745
Resistance
3759 / 3773 / 3790 / 3807
Support
3728 / 3711 / 3697 / 3683
Possible Range
3600 to 3900
Strategy
Long positions may be opened above 3750 with targets at 3773/3790 stop-loss at 3730
Short positions may be opened below 3730 with targets at 3711/3697 stop-loss at 3750

FCPO Feb month rose 38 points or 1.03% to 3740 closed higher. Malaysian palm oil futures closed up on Friday, snapping a five-session losing streak, on strength in rival oils.

Overnight Soybean oil Jan Month fell 0.93 to 50.20. Soybean futures fell on Friday after the Department of Agriculture's updated estimate of Brazil's soybean harvest fell toward the high end of trade expectations, easing concerns about global supplies of the oilseed. Dalian's most active palm oil contract rose 40 to 7056.

Following the mixed performance of soybean oil and dalian oil, the FCPO could trade within the range. A break below 3716 (yesterday's low) would target 3697/3683 en route to 3652. On the flip side, the next resistance is located at 3745 (Pivot), followed by 3759 (R1), and finally 3778 (Yesterday’s high).

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.433495 4.468085
EUR 4.666144 4.670681
CNY 0.613392 0.614027
HKD 0.569982 0.573943
SGD 3.292816 3.315997