FCPO
FCPO 3rd Month Futures - 4 April 2024
Thu, 04-Apr-2024 08:47 am
by Futures Dealing • Apex Futures

FCPO
Pivot
4381
Resistance
4425 / 4469 / 4501 / 4532
Support
4350 / 4318 / 4274 / 4230
Possible Range
4300 to 4550
Strategy
Long positions may be opened above 4380 with targets at 4469/4501 stop-loss at 4350
Short positions may be opened below 4380 with targets at 4350/4318 stop-loss at 4410

FCPO Jun month rose 95 points or 2.20% to 4407 closed higher. Malaysian palm oil futures closed higher for a third straight session on Wednesday, boosted by hot weather and a supply shortage ahead of the Eid holiday as production slumped during Ramadan.

Overnight Soybean oil May Month rose 0.25 to 48.85. Soybean Futures ended higher.

Following the bullish performance of soybean oil, the FCPO could trade higher. A break above 4443 (yesterday's high) would target 4469/4501 en route to 4532. On the flip side, the next support is located at 4381 (Pivot), followed by 4350 (S1), and finally 4292 (Yesterday’s low).

(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