FCPO
FCPO 3rd Month Futures - 3 May 2024
Fri, 03-May-2024 06:45 am
by Futures Dealing • Apex Futures

FCPO
Pivot
3832
Resistance
3848 / 3864 / 3873 / 3881
Support
3824 / 3815 / 3800 / 3783
Possible Range
3800 to 3900
Strategy
Long positions may be opened above 3830 with targets at 3864/3881 stop-loss at 3800
Short positions may be opened below 3830 with targets at 3815/3800 stop-loss at 3860

FCPO July month rose 28 points or 0.73% to 3846 closed higher. Malaysian palm oil futures closed higher on Thursday following news of a jump in India's imports, while market participants awaited fresh trading cues.

Overnight Soybean oil Jul Month fell 0.02 to 43.24. Dalian Exchange trading was closed for the Labour Day holiday.

Following the mixed performance of soybean oil, the FCPO could trade within the range. A break above 3850 (yesterday's high) would target 3864/3873 en route to 3881. On the flip side, the next support is located at 3832 (Pivot), followed by 3824 (S1), and finally 3801 (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 4.143353 4.175289
EUR 4.627335 4.635403
CNY 0.591281 0.591775
HKD 0.532272 0.535891
SGD 3.214986 3.240064