FCPO
FCPO 3rd Month Futures - 26 March 2024
Tue, 26-Mar-2024 08:28 am
by Futures Dealing • Apex Futures

FCPO
Pivot
4228
Resistance
4260 / 4292 / 4314 / 4336
Support
4206 / 4184 / 4152 / 4120
Possible Range
4200 to 4350
Strategy
Long positions may be opened above 4230 with targets at 4292/4314 stop-loss at 4200
Short positions may be opened below 4230 with targets at 4206/4184 stop-loss at 4260

FCPO Jun month rose 59 points or 1.41% to 4247 closed higher. Malaysian palm oil futures rose on Monday, snapping two straight sessions of losses, underpinned by strong export data and weak output growth.

Overnight Soybean oil May Month rose 1.38 to 49.02. Soybean Futures Rise With Support From Soyoil. Dalian's most active palm oil contract rose 102 to 8402.

Following the bullish performance of dalian oil and soybean oil, the FCPO could trade higher. A break above 4273 (yesterday's high) would target 4292/4314 en route to 4336. On the flip side, the next support is located at 4228 (Pivot), followed by 4206 (S1), and finally 4165 (Yesterday’s low).

(News Source: Reuters)

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Market Mover
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