FCPO
FCPO 3rd Month Futures - 15 March 2024
Fri, 15-Mar-2024 08:45 am
by Dealing Team • Apex Futures

FCPO
Pivot
4267
Resistance
4306 / 4344 / 4369 / 4393
Support
4243 / 4218 / 4180 / 4141
Possible Range
4250 to 4400
Strategy
Long positions may be opened above 4270 with targets at 4344/4369 stop-loss at 4240
Short positions may be opened below 4270 with targets at 4243/4218 stop-loss at 4300

FCPO May month rose 100 points or 2.38% to 4295 closed higher. Malaysian palm oil futures rose for a fourth consecutive session on Thursday to their highest close in more than a year, underpinned by stronger rival edible oils and robust demand from key buyers.

Overnight Soybean oil May Month fell 0.18 to 48.39. Soybean futures settle down on technical selling after choppy session. Dalian's most active palm oil contract rose 162 to 8208.

Following the mixed performance of dalian oil and soybean oil, the FCPO could trade higher. A break above 4316 (yesterday's high) would target 4344/4369 en route to 4393. On the flip side, the next support is located at 4267 (Pivot), followed by 4243 (S1), and finally 4190 (Yesterday’s low).

FCPO: 随着大连油和豆油的好坏参半,FCPO 可能会走高。 突破 4316(昨天高点)后,目标位为 4344/4369,并通往 4393。另一方面,下一个支撑位位于 4267(枢轴点),然后是 4243(S1),最后是 4190(昨天低点)。

做多策略:可在4270上方做多,目标价 4344/4369, 止损位4240

做空策略:可在4270下方做空,目标价 4243/4218, 止损位4300

(News Source: Reuters)

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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