FCPO
FCPO 3rd Month Futures - 12 December 2023
Tue, 12-Dec-2023 08:57 am
by Dealing Team • Apex Futures

FCPO
Pivot
3744
Resistance
3757 / 3769 / 3783 / 3797
Support
3730 / 3716 / 3704 / 3691
Possible Range
3600 to 3900
Strategy
Long positions may be opened above 3760 with targets at 3769/3797 stop-loss at 3740
Short positions may be opened below 3740 with targets at 3716/3704 stop-loss at 3760

FCPO Feb month rose 1 points or 0.03% to 3741 closed higher. Malaysian palm oil futures ended slightly higher on Monday, extending gains from the previous session, as the market tracked strength in Chicago soyoil prices.

Overnight Soybean oil Jan Month rose 0.91 to 51.11. Soybean futures rose on Monday as concerns re-emerged that drought conditions in Brazil are having a detrimental effect on crops in the top-producing nation and after the U.S. government announced another export sale. Dalian's most active palm oil contract rose 22 to 7086.

Following the bullish performance of soybean oil and dalian oil, the FCPO could trade higher. A break above 3772 (yesterday's high) would target 3783/3797 en route to 3824. On the flip side, the next support is located at 3730 (S1), followed by 3719 (Yesterday’s low), and finally 3704 (S2).

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.226942 4.260444
EUR 4.723982 4.728876
CNY 0.598324 0.598990
HKD 0.542537 0.546362
SGD 3.269503 3.292710