FCPO
FCPO 3rd Month Futures - 29 January 2024
Mon, 29-Jan-2024 08:44 am
by Dealing Team • Apex Futures

FCPO
Pivot
4001
Resistance
4027 / 4052 / 4070 / 4088
Support
3983. / 3965 / 3940 / 3914
Possible Range
3900 to 4050
Strategy
Long positions may be opened above 4000 with targets at 4052/4070 stop-loss at 3970
Short positions may be opened below 4000 with targets at 3983/3965 stop-loss at 4030

FCPO Apr month rose 23 points or 0.58% to 4017 closed higher. Malaysian palm oil futures reversed early losses on Friday to clock their highest in four months, lifted by expectations of tighter output.

Overnight Soybean oil Mar Month rose 0.40 to 46.93. Soybean futures sank to a one-week low on Friday and corn fell more than 1% as traders focused on improving prospects for South American harvests. Dalian's most active palm oil contract fell 34 to 7490.

Following the mixed performance of dalian oil and soybean oil, the FCPO could trade within the range. A break above 4036 (yesterday's high) would target 4052/4070 en route to 4088. On the flip side, the next support is located at 4001 (Pivot), followed by 3983 (S1), and finally 3949 (Yesterday’s low).

FCPO: 马来西亚棕榈油期货上周五扭转早盘跌势,上涨23点(涨幅0.58%),收于4017点创下4个月来最高水平,受产量收紧预期提振。

做多策略:可在4000上方做多,目标价 4052/4070, 止损位3970
做空策略:可在4000下方做空,目标价 3983/3965, 止损位4030

(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