FCPO
FCPO 3rd Month Futures - 26 January 2024
Fri, 26-Jan-2024 08:58 am
by Dealing Team • Apex Futures

FCPO
Pivot
3976
Resistance
3996 / 4016 / 4027 / 4037
Support
3966 / 3955 / 3935 / 3915
Possible Range
3900 to 4050
Strategy
Long positions may be opened above 3980 with targets at 4016/4037 stop-loss at 3950
Short positions may be opened below 3980 with targets at 3966/3935 stop-loss at 4010

FCPO Apr month rose 46 points or 1.17% to 3994 closed higher. Malaysia's palm oil sector could generate additional output and revenue of up to 4 billion ringgit ($845.84 million) this year, following a government move that would allow plantations to hire foreign workers, an industry group said on Wednesday.

Overnight Soybean oil Mar Month rose dropped 0.79 to 46.53. Soybean futures fell 1.4% on Thursday, pressured by weak export demand for U.S. soy given strong competition from Brazilian supplies. Dalian's most active palm oil contract rose 58 to 7530.

Following the mixed performance of dalian oil and soybean oil, the FCPO could trade within the range. A break above 3998 (yesterday's high) would target 4016/4027 en route to 4037. On the flip side, the next support is located at 3976 (Pivot), followed by 3966 (S1), and finally 3937 (Yesterday’s low).

FCPO: 继大连油和大豆油涨跌互现后,FCPO可在区间内交投。如果突破3998(昨天的高点),将是4016 - 4027的目标,然后再到达4037。另一方面,下一个支撑位位于3976(枢轴),然后是3966 (S1),最后是3937(昨天的最低价)。

做多策略:可在3980上方做多,目标价 4016/4037, 止损位3950
做空策略:可在3980下方做空,目标价 3966/3935, 止损位4010

(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
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