FCPO
FCPO 3rd Month Futures - 14 February 2024
Wed, 14-Feb-2024 08:56 am
by Futures Dealing • Apex Futures

FCPO
Pivot
3884
Resistance
3906 / 3928 / 3943 / 3958
Support
3869 / 3854 / 3832 / 3810
Possible Range
3800 to 3950
Strategy
Long positions may be opened above 3880 with targets at 3928/3943 stop-loss at 3850
Short positions may be opened below 3880 with targets at 3869/3854 stop-loss at 3910

FCPO Apr month rose 14 points or 0.36% to 3898 closed higher. Malaysian palm oil futures closed higher on Tuesday, as industry data showed that stockpiles of the tropical oil slumped to their lowest levels in six months.

Overnight Soybean oil Mar Month rose 0.40 to 47.30. Soybean Futures felt weakness for much of the session on Tuesday, with contracts closing anywhere from 3 o 6 ¾ cents lower on Turnaround Tuesday.

Following the bullish performance and soybean oil, the FCPO could trade higher. A break above 3914 (yesterday's high) would target 3928/3943 en route to 3958. On the flip side, the next support is located at 3884 (Pivot), followed by 3869 (S1), and finally 3840 (Yesterday’s low).

FCPO: 随着豆油的看涨表现,FCPO 可能会走高。突破 3914(昨天高点)后,目标位为 3928/3943,并通往 3958。另一方面,下一个支撑位位于 3884(枢轴),然后是 3869(S1),最后是 3840(昨天低点)。

做多策略:可在3880上方做多,目标价 3928/3943, 止损位3850

做空策略:可在3880下方做空,目标价 3969/3854, 止损位3910

(News Source: Reuters)

Read more details in:

Disclaimer

The report is for internal and private circulation only and shall not be reproduced either in part or otherwise without the prior written consent of Apex Securities Berhad. The opinions and information contained herein are based on available data believed to be reliable. It is not to be construed as an offer, invitation or solicitation to buy or sell the securities covered by this report.

Opinions, estimates and projections in this report constitute the current judgment of the author. They do not necessarily reflect the opinion of Apex Securities Berhad and are subject to change without notice. Apex Securities Berhad has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

Apex Securities Berhad does not warrant the accuracy of anything stated herein in any manner whatsoever and no reliance upon such statement by anyone shall give rise to any claim whatsoever against Apex Securities Berhad. Apex Securities Berhad may from time to time have an interest in the company mentioned by this report. This report may not be reproduced, copied or circulated without the prior written approval of Apex Securities Berhad.

Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
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