FCPO
FCPO 3rd Month Futures - 26 December 2023
Tue, 26-Dec-2023 09:38 am
by Dealing Team • Apex Futures

FCPO
Pivot
3722
Resistance
3741 / 3759 / 3770 / 3781
Support
3711 / 3701 / 3682 / 3663
Possible Range
3600 to 3900
Strategy
Long positions may be opened above 3720 with targets at 3759/3770 stop-loss at 3700
Short positions may be opened below 3700 with targets at 3682/3663 stop-loss at 3720

FCPO Mar month fell 37 points or 0.98% to 3741 closed lower. Malaysian palm oil futures settled lower on Thursday because investors booked profits after five straight sessions of gains, and lower overseas demand for the cooking oil also weighed on the market.

Overnight Soybean oil Mar Month fell 0.31 to 49.02. Soybean futures firmed on Friday, as traders adjusted their positions before the year-end holidays after a flurry of economic data showed underlying inflation pressures continuing to ease. Dalian's most active palm oil contract rose 60 to 7144.

Following the mixed performance of soybean oil and dalian oil, the FCPO could trade within the range. A break above 3743 (yesterday's high) would target 3759/3770 en route to 3781. On the flip side, the next support is located at 3722 (Pivot), followed by 3711 (S1), and finally 3684 (Yesterday’s low).

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.471088 4.501214
EUR 4.716896 4.721211
CNY 0.617809 0.618311
HKD 0.574231 0.578627
SGD 3.318606 3.341159