FCPO
FCPO 3rd Month Futures - 12 March 2024
Tue, 12-Mar-2024 08:39 am
by Futures Dealing • Apex Futures

FCPO
Pivot
4107
Resistance
4135 / 4163 / 4180 / 4196
Support
4091 / 4074 / 4046 / 4018
Possible Range
4050 to 4200
Strategy
Long positions may be opened above 4100 with targets at 4163/4180 stop-loss at 4070
Short positions may be opened below 4100 with targets at 4074/4046 stop-loss at 4130

FCPO May month rose 37 points or 0.90% to 4131 closed higher. Malaysian palm oil futures rose on Monday as inventories in the world's second-biggest producer dipped to a seven-month low on declining production.

Overnight Soybean oil May Month rose 0.47 to 46.64. Soy Oil futures are 38 points in the black across the front months. Dalian's most active palm oil contract rose 62 to 7830.

Following the bullish performance of dalian oil and soybean oil, the FCPO could trade higher. A break above 4139 (yesterday's high) would target 4163/4180 en route to 4196. On the flip side, the next support is located at 4107 (Pivot), followed by 4091 (S1), and finally 4050 (Yesterday’s low).

FCPO: 随着大连油和豆油的看涨表现,FCPO 可能会走高。突破 4139(昨天高点)后,目标位为 4163/4180,然后升至 4196。另一方面,下一个支撑位于 4107(支撑点),然后是 4091(S1),最后是 4050(昨天低点)。

做多策略:可在4100上方做多,目标价 4163/4180, 止损位4070

做空策略:可在4100下方做空,目标价 4074/4046, 止损位4130

(News Source: Reuters)

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