FCPO
FCPO 3rd Month Futures - 25 March 2024
Mon, 25-Mar-2024 08:02 am
by Futures Dealling • Apex Futures

FCPO
Pivot
4216
Resistance
4236 / 4256 / 4290 / 4234
Support
4182 / 4148 / 4128 / 4108
Possible Range
4100 to 4250
Strategy
Long positions may be opened above 4220 with targets at 4236/4256 stop-loss at 4190
Short positions may be opened below 4220 with targets at 4148/4128 stop-loss at 4250

FCPO Jun month fell 61 points or 1.44% to 4188 closed lower. Malaysian palm oil futures fell on Friday to mark its first weekly loss in five as it consolidated after a recent bullish episode, while lower edible and crude oil prices added to the decline.

Overnight Soybean oil May Month fell 1.15 to 47.64. Soybean futures drop back to red for the Week. Dalian's most active palm oil contract fell 66 to 8256.

Following the bearish performance of dalian oil and soybean oil, the FCPO could trade lower. A break below 4176 (yesterday's low) would target 4217/4201 en route to 4184. On the flip side, the next resistance is located at 4265 (Pivot), followed by 4282 (R1), and finally 4314 (Yesterday’s high).

(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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