FCPO
FCPO 3rd Month Futures - 18 March 2024
Mon, 18-Mar-2024 08:54 am
by Futures Dealing • Apex Futures

FCPO
Pivot
4226
Resistance
4240 / 4254 / 4271 / 4288
Support
4209 / 4192 / 4178 / 4164
Possible Range
4200 to 4350
Strategy
Long positions may be opened above 4230 with targets at 4271/4288 stop-loss at 4200
Short positions may be opened below 4230 with targets at 4209/4192 stop-loss at 4260

FCPO Jun month fell 10 points or 0.24% to 4220 closed lower. Malaysian palm oil futures were largely unchanged on Friday, but logged a fourth straight weekly gain on concerns over extreme weather conditions affecting yields.

Overnight Soybean oil May Month rose 1.03 to 49.42. Soy oil led the rally into the weekend with another triple digit session on Friday. Dalian's most active palm oil contract rose 146 to 8296.

Following the bullish performance of dalian oil and soybean oil, the FCPO could trade higher. A break above 4260 (yesterday's high) would target 4271/4288 en route to 4319. On the flip side, the next support is located at 4209 (S1), followed by 4198 (Yesterday’s low), and finally 4178 (S2).

FCPO: 随着大连油和豆油的看涨表现,FCPO 可能会走高。突破 4260(昨天高点)后,目标位为 4271/4288,然后升至 4319。另一方面,下一个支撑位于 4209(S1),然后是 4198(昨天低点),最后是 4178(S2)。

做多策略:可在4230上方做多,目标价 4271/4281, 止损位4200

做空策略:可在4230下方做空,目标价 4209/4192, 止损位4260

(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