FCPO
FCPO 3rd Month Futures - 12 January 2024
Fri, 12-Jan-2024 08:50 am
by Dealing Team • Apex Futures

FCPO
Pivot
3792
Resistance
3805 / 3817 / 3828 / 3839
Support
3781 / 3770 / 3758 / 3745
Possible Range
3700 to 3850
Strategy
Long positions may be opened above 3790 with targets at 3828/3839 stop-loss at 3760
Short positions may be opened below 3790 with targets at 3770/3758 stop-loss at 3820

FCPO Mar month rose 37 points or 0.98% to 3794 closed higher. Malaysian palm oil futures closed up on Thursday for a sixth straight session, with gains in rival oils supporting the market.

Overnight Soybean oil Mar Month rose 0.47 to 48.72. Soybean futures ended flat on Thursday and remained near their lowest level since December 2021 amid lackluster demand for U.S. exports and an improved South American supply outlook. Dalian's most active palm oil contract rose 16 to 7250.

Following the bullish performance of soybean oil and dalian oil, the FCPO could trade wihtin the range. A break above 3815 (yesterday's high) would target 3828/3839 en route to 3863. On the flip side, the next support is located at 3792 (Pivot), followed by 3781 (S1), and finally 3768 (Yesterday’s low).

FCPO: 随着豆油和大连油的看涨,FCPO 可能会在区间内交易。突破 3815(昨天高点)后,目标位为 3828/3839,并通往 3863。另一方面,下一个支撑位位于 3792(支撑点),然后是 3781(S1),最后是 3768(昨天低点)。

做多策略:可在3790上方做多,目标价 3828/3839, 止损位3760
做空策略:可在3790下方做空,目标价 3770/3758, 止损位3820

(News Source: Reuters)

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Market Mover
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USD 4.186344 4.224837
EUR 4.692802 4.707788
CNY 0.594564 0.595974
HKD 0.537155 0.542118
SGD 3.243708 3.273864