FCPO
FCPO 3rd Month Futures - 11 March 2024
Mon, 11-Mar-2024 08:59 am
by Futures Dealing • Apex Futures

FCPO
Pivot
4103
Resistance
4119 / 4134 / 4154 / 4173
Support
4084 / 4064 / 4049 / 4033
Possible Range
4000 to 4150
Strategy
Long positions may be opened above 4100 with targets at 4119/4134 stop-loss at 4070
Short positions may be opened below 4100 with targets at 4084/4064 stop-loss at 4130

FCPO May month rose 23 points or 0.56% to 4094 closed higher. Malaysian palm oil futures rose on Friday to log a third straight weekly gain amid higher Dalian softs and crude oil prices, although a stronger ringgit capped further gains.

Overnight Soybean oil May Month fell 0.18 to 46.17. Soybean futures were initially weaker on Friday, but firmed up out of the report and are trading 1 to 7 cents higher at midday. Dalian's most active palm oil contract rose 14 to 7764.

Following the mixed performance of dalian oil and soybean oil, the FCPO could trade within the range. A break below 4073 (yesterday's low) would target 4064/4049 en route to 4033. On the flip side, the next resistance is located at 4103 (Pivot), followed by 4119 (R1), and finally 4143 (Yesterday’s high).

FCPO: 随着大连豆油和豆油的涨跌互现,FCPO 可能会在区间内交易。跌破4073(昨天的低点)将目标为4064/4049,并通往4033。另一方面,下一个阻力位于4103(支撑点),然后是4119(R1),最后是4143(昨天的高点)。

做多策略:可在4100上方做多,目标价 4119/4134, 止损位4070

做空策略:可在4100下方做空,目标价 4084/4064, 止损位4130

(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