FCPO
FCPO 3rd Month Futures - 16 January 2024
Tue, 16-Jan-2024 09:08 am
by Dealing Team • Apex Futures

FCPO
Pivot
3809
Resistance
3817 / 3824 / 3836 / 3848
Support
3797 / 3785 / 3778 / 3770
Possible Range
3700 to 3800
Strategy
Long positions may be opened above 3810 with targets at 3824/3848 stop-loss at 3780
Short positions may be opened below 3810 with targets at 3785/3770 stop-loss at 3840

FCPO Apr month fell 43 points or 1.12% to 3800 closed higher. Malaysian palm oil futures slipped on Monday and snapped a seven-session gaining streak, pressured by demand concerns in key destinations, although a decline in production capped losses.

The US markets were closed for the Martin Luther King Jr. holiday. Dalian's most active palm oil contract rose 26 to 7328.

Following the mixed performance of dalian oil, the FCPO could trade wihtin the range. A break below 3794 (yesterday's low) would target 3785/3778 en route to 3770. On the flip side, the next resistance is located at 3809 (Pivot), followed by 3817 (R1), and finally 3833 (Yesterday’s high).

FCPO: 随着大连油的表现平淡,FCPO 可能会在区间内交易。跌破3794(昨天的低点)将目标为3785/3778,并通往3770。另一方面,下一个阻力位于3809(支撑点),然后是3817(R1),最后是3833(昨天的高点)。

做多策略:可在3810上方做多,目标价 3824/3848, 止损位3780
做空策略:可在3810下方做空,目标价 3785/3770, 止损位3840

(News Source: Reuters)

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Market Mover
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