FCPO
FCPO 3rd Month Futures - 13 March 2024
Wed, 13-Mar-2024 08:28 am
by Futures Dealing • Apex Futures

FCPO
Pivot
4140
Resistance
4152 / 4164 / 4182 / 4200
Support
4122 / 4104 / 4092 / 4080
Possible Range
4100 to 4250
Strategy
Long positions may be opened above 4140 with targets at 4182/4200 stop-loss at 4110
Short positions may be opened below 4140 with targets at 4122/4104 stop-loss at 4170

FCPO May month fell 2 points or 0.05% to 4129 closed lower. Malaysian palm oil futures were largely unchanged on Tuesday as strength in Dalian edible oils was offset by a firmer ringgit and weak Chinese demand.

Overnight Soybean oil May Month rose 1.18 to 47.82. Soy Oil futures finished the Tuesday session with triple digit gains of as much as 2.5%. Dalian's most active palm oil contract rose 46 to 7866.

Following the bullish performance of dalian oil and soybean oil, the FCPO could trade higher. A break above 4175 (yesterday's high) would target 4182/4200 en route to 4230. On the flip side, the next support is located at 4122 (S1), followed by 4115 (Yesterday’s low), and finally 4104 (S2).

FCPO: 随着大连油和豆油的看涨表现,FCPO 可能会走高。突破 4175(昨天高点)后,目标位为 4182/4200,然后升至 4230。另一方面,下一个支撑位位于 4122(S1),然后是 4115(昨天低点),最后是 4104(S2)。

做多策略:可在4140上方做多,目标价 4182/4200, 止损位4110

做空策略:可在4140下方做空,目标价 4122/4104, 止损位4170

(News Source: Reuters)

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Market Mover
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