FCPO
FCPO 3rd Month Futures - 26 February 2024
Mon, 26-Feb-2024 08:21 am
by Futures Dealing • Apex Futures

FCPO
Pivot
3843
Resistance
3865 / 3876 / 3894 / 3912
Support
3835 / 3817 / 3806 / 3794
Possible Range
3800 to 3900
Strategy
Long positions may be opened above 3840 with targets at 3876/3912 stop-loss at 3810
Short positions may be opened below 3840 with targets at 3817/3806 stop-loss at 3870

FCPO May month rose 14 points or 0.36% to 3853 closed higher. Malaysian palm oil futures moved up and down on Friday for want for a direction, finally inching higher and posting a weekly gain, as market participants waited for new leads.

Overnight Soybean oil May Month fell 0.20 to 44.60. Soybean Futures turned lower as weekly U.S. exports dropped to the lowest since last May, according to government data. Dalian's most active palm oil contract rose 18 to 7300.

Following the mixed performance of dailian oil and soybean oil, the FCPO could trade within the range. A break above 3865 (yesterday's high) would target 3876/3894 en route to 3912. On the flip side, the next support is located at 3843 (Pivot), followed by 3835 (S1), and finally 3811 (Yesterday’s low).

(News Source: Futures Dealing)

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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