FCPO
FCPO 3rd Month Futures - 27 December 2023
Wed, 27-Dec-2023 08:52 am
by Dealing Team • Apex Futures

FCPO
Pivot
3754
Resistance
3766 / 3777 / 3785 / 3792
Support
3747 / 3739 / 3728 / 3716
Possible Range
3700 to 3800
Strategy
Long positions may be opened above 3750 with targets at 3777/3792 stop-loss at 3730
Short positions may be opened below 3730 with targets at 3716/3697 stop-loss at 3750

FCPO Mar month rose 25 points or 0.67% to 3763 closed lower. Malaysian palm oil futures ticked up on Tuesday as trading resumed after a long holiday weekend, with stronger rival Dalian vegetable oils underpinning the market, although low volumes of trade limited gains.

Overnight Soybean oil Mar Month fell 0.51 to 48.51. Soybean futures ends higher on end-of-year market repositioning. Dalian's most active palm oil contract rose 52 to 7224.

Following the mixed performance of soybean oil and dalian oil, the FCPO could trade wihtin the range. A break above 3768 (yesterday's high) would target 3777/3785 en route to 3792. On the flip side, the next support is located at 3754 (Pivot), followed by 3747 (S1), and finally 3730 (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