FCPO
FCPO 3rd Month Futures - 21 December 2023
Tue, 26-Dec-2023 09:29 am
by Dealing Team • Apex Futures

FCPO
Pivot
3780
Resistance
3791 / 3802 / 3814 / 3826
Support
3768 / 3756 / 3745 / 3734
Possible Range
3600 to 3900
Strategy
Long positions may be opened above 3780 with targets at 3814/3826 stop-loss at 3760
Short positions may be opened below 3760 with targets at 3745/3734 stop-loss at 3780

FCPO Mar month rose 23 points or 0.61% to 3778 closed higher. Malaysian palm oil futures settled higher for a fifth straight session on Wednesday, a day after Brazil decided to raise its mandatory biodiesel mix into diesel.

Overnight Soybean oil Mar Month fell 0.08 to 50.76. Soybean futures turned lower on Tuesday, as weather forecasts called for Brazil's dry crop belts getting some much-needed rainfall in the coming days. Dalian's most active palm oil contract rose 62 to 7238.

Following the mixed performance of soybean oil and dalian oil, the FCPO could trade within the range. A break above 3804 (yesterday's high) would target 3814/3826 en route to 3849. On the flip side, the next support is located at 3768 (S1), followed by 3758 (Yesterday’s low), and finally 3734 (S3).

(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