FCPO
FCPO 3rd Month Futures - 27 February 2024
Tue, 27-Feb-2024 08:23 am
by Futures Dealing • Apex Futures

FCPO
Pivot
3855
Resistance
3868 / 3880 / 3889 / 3897
Support
3847 / 3838 / 3826 / 3813
Possible Range
3800 to 3900
Strategy
Long positions may be opened above 3860 with targets at 3889/3897 stop-loss at 3830
Short positions may be opened below 3860 with targets at 3847/3838 stop-loss at 3890

FCPO May month rose 10 points or 0.26% to 3863 closed higher. Malaysian palm oil futures closed higher on Monday, after posting a weekly gain last week, even as subdued exports data weighed on the contract.

Overnight Soybean oil May Month rose 0.42 to 45.02. Soybean Futures bounced on short-covering on Monday, after large supplies earlier knocked nearby contracts to their lowest levels in more than three years.

Following the bullish performance of soybean oil, the FCPO could trade higher. A break above 3872 (yesterday's high) would target 3880/3889 en route to 3897. On the flip side, the next support is located at 3855 (Pivot), followed by 3847 (S1), and finally 3830 (Yesterday’s low).

FCPO: 随着豆油的看涨表现,FCPO 可能会走高。突破 3872(昨天高点)后,目标将是 3880/3889,并最终到达 3897。另一方面,下一个支撑位位于 3855(支撑点),然后是 3847(S1),最后是 3830(昨天低点)。

做多策略:可在3860上方做多,目标价 3889/3897, 止损位3830

做空策略:可在3860下方做空,目标价 3847/3838, 止损位3890

(News Source: Reuters)

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