FCPO
FCPO 3rd Month Futures - 19 February 2024
Mon, 19-Feb-2024 08:41 am
by Futures Dealing • Apex Futures

FCPO
Pivot
3820
Resistance
3829 / 3837 / 3852 / 3866
Support
3806 / 3791 / 3783 / 3774
Possible Range
3750 to 3900
Strategy
Long positions may be opened above 3820 with targets at 3829/3837 stop-loss at 3790
Short positions may be opened below 3820 with targets at 3806/3791 stop-loss at 3850

FCPO May month fell 12 points or 0.31% to 3809 closed lower. Malaysian palm oil futures fell on Friday, ending the week with nearly 2% losses as mounting concerns over exports of the tropical oil from the second-biggest exporter, Malaysia, prompted traders to ignore lower stocks.

Overnight Soybean oil May Month fell 0.46 to 46.08. Soybean Futures jumped on Friday on short covering before a long weekend, a day after slumping to a three-year low.

Following the mixed performance and soybean oil, the FCPO could trade within the range. A break below 3802 (yesterday's low) would target 3791/3783 en route to 3774. On the flip side, the next resistance is located at 3820 (Pivot), followed by 3829 (R1), and finally 3848 (Yesterday’s high).

FCPO: 继豆油表现参差不齐之后,FCPO 可能会在该区间内交易。跌破3802(昨天的低点)将瞄准3791/3783,并通往3774。另一方面,下一个阻力位于3820(支撑点),然后是3829(R1),最后是3848(昨天的高点)。

做多策略:可在3820上方做多,目标价 3829/3837, 止损位3790

做空策略:可在3820下方做空,目标价 3806/3791, 止损位3850

(News Source: Reuters)

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