FCPO
FCPO 3rd Month Futures - 21 March 2024
Thu, 21-Mar-2024 09:26 am
by Futures Dealing • Apex Futures

FCPO
Pivot
4257
Resistance
4286 / 4315 / 4337 / 4359
Support
4235 / 4213 / 4184 / 4155
Possible Range
4200 to 4350
Strategy
Long positions may be opened above 4260 with targets at 4315/4337 stop-loss at 4230
Short positions may be opened below 4260 with targets at 4235/4213 stop-loss at 4290

FCPO Jun month rose 71 points or 1.69% to 4272 closed higher. Malaysian palm oil futures rebounded on Wednesday, as better export figures and expectation of easing production growth in March supported prices.

Overnight Soybean oil May Month rose 0.86 to 49.00. Soybean futures rise on US export sales. Dalian's most active palm oil contract rose 166 to 8392.

Following the bullish performance of dalian oil and soybean oil, the FCPO could trade higher. A break above 4300 (yesterday's high) would target 4315/4337 en route to 4359. On the flip side, the next support is located at 4257 (Pivot), followed by 4235 (S1), and finally 4198 (Yesterday’s low).

(News Source: Reuters)

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Market Mover
Settlement Rates
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USD 4.186344 4.224837
EUR 4.692802 4.707788
CNY 0.594564 0.595974
HKD 0.537155 0.542118
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