FCPO
FCPO 3rd Month Futures - 12 April 2024
Fri, 12-Apr-2024 08:35 am
by Futures Dealing • Apex Futures

FCPO
Pivot
4304
Resistance
4326 / 4347 / 4362 / 4376
Support
4275 / 4254 / 4232 / 4196
Possible Range
4200 to 4350
Strategy
Long positions may be opened above 4300 with targets at 4347/4376 stop-loss at 4270
Short positions may be opened below 4300 with targets at 4254/4232 stop-loss at 4330

FCPO Jun month rose 23 points or 0.54% to 4318 closed higher. Malaysian palm oil futures settled higher on Tuesday, snapping three consecutive sessions of losses, supported by the prospect of lower inventories, but higher premiums capped gains.

Overnight Soybean oil May Month fell 1.58 to 46.02. Soybean Futures ended lower. Dalian's most active palm oil contract fell 18 to 7844.

Following the bearish performance of soybean oil and dalian oil, the FCPO could trade lower. A break below 4261 (yesterday's low) would target 4254/4232 en route to 4196. On the flip side, the next resistance is located at 4326 (R1), followed by 4333 (Yesterday’s high), and finally 4362 (R2).

(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 4.205278 4.237675
EUR 4.930003 4.933950
CNY 0.592227 0.592702
HKD 0.540051 0.543728
SGD 3.273475 3.295837