FCPO
FCPO 3rd Month Futures - 14 March 2024
Thu, 14-Mar-2024 08:20 am
by Futures Dealing • Apex Futures

FCPO
Pivot
4174
Resistance
4197 / 4219 / 4231 / 4242
Support
4163 / 4151 / 4129 / 4106
Possible Range
4100 to 4250
Strategy
Long positions may be opened above 4170 with targets at 4197/4219 stop-loss at 4130
Short positions may be opened below 4170 with targets at 4163/4151 stop-loss at 4200

FCPO May month rose 66 points or 1.60% to 4195 closed higher. Malaysian palm oil futures rose on Wednesday to their highest closing in over a year, as strength in rival edible oils and firmer crude oil prices underpinned the market.

Overnight Soybean oil May Month rose 0.75 to 48.75. Soy Oil Staying Strong as Beans Start Wednesday Weaker. Dalian's most active palm oil contract rose 56 to 7950.

Following the bullish performance of dalian oil and soybean oil, the FCPO could trade higher. A break above 4198 (yesterday's high) would target 4219/4231 en route to 4242. On the flip side, the next support is located at 4174 (Pivot), followed by 4163 (S1), and finally 4130 (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 4198(昨天高点)后,目标位为 4219/4231,然后升至 4242。另一方面,下一个支撑位于 4174(支撑点),然后是 4163(S1),最后是 4130(昨天低点)。

做多策略:可在4170上方做多,目标价 4197/4219, 止损位4130

做空策略:可在4170下方做空,目标价 4163/4151, 止损位4200

(News Source: Reuters)

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