FCPO
FCPO 3rd Month Futures - 20 March 2024
Wed, 20-Mar-2024 09:08 am
by Futures Dealing • Apex Futures

FCPO
Pivot
4223
Resistance
4236 / 4249 / 4274 / 4298
Support
4199 / 4174 / 4161 / 4148
Possible Range
4150 to 4300
Strategy
Long positions may be opened above 4220 with targets at 4236/4249 stop-loss at 4190
Short positions may be opened below 4220 with targets at 4174/4161 stop-loss at 4250

FCPO Jun month fell 35 points or 0.83% to 4201 closed lower. Malaysian palm oil futures shed early strength to edge lower on Tuesday, in the absence of no new catalysts in the market and weakness in Dalian and Chicago soy oils.

Overnight Soybean oil May Month fell 0.56 to 48.18. Soybean futures ended lower. Dalian's most active palm oil contract rose 22 to 8184.

Following the mixed performance of dalian oil and soybean oil, the FCPO could trade within the range. A break below 4196 (yesterday's low) would target 4174/4161 en route to 4148. On the flip side, the next resistance is located at 4223 (Pivot), followed by 4236 (R1), and finally 4271 (Yesterday’s high).

(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