FCPO
FCPO 3rd Month Futures - 13 May 2024
Mon, 13-May-2024 06:32 am
by Futures Dealing • Apex Futures

FCPO
Pivot
3808
Resistance
3849 / 3869 / 3889 / 3930
Support
3788 / 3768 / 3747 / 3727
Possible Range
3750 to 3900
Strategy
Long positions may be opened above 3810 with targets at 3869/3889 stop-loss at 3780
Short positions may be opened below 3810 with targets at 3788/3768 stop-loss at 3840

FCPO July month fell 22 points or 0.57% to 3809 closed lower. Malaysian palm oil futures fell for a third consecutive session to close at a three-month low on Friday, tracking weaker Dalian rivals, while palm oil data from the Malaysia Palm Oil Board (MPOB) earlier in the day weighed on sentiment.

Overnight Soybean oil Jul Month rose 1.80 to 44.44. Soybean oil Futures ended higher. Dalian's most active palm oil contract fell 20 to 7306.

Following the mixed performance of soybean oil and dalian oil, the FCPO could trade within the range. A break above 3848 (yesterday's high) would target 3869/3889 en route to 3930. On the flip side, the next support is located at 3808 (Pivot), followed by 3788 (S1), and finally 3767 (Yesterday’s low).

(News Source: Reuters)

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Market Mover
Settlement Rates
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USD 4.186146 4.219371
EUR 4.664934 4.669654
CNY 0.594782 0.595398
HKD 0.537928 0.541710
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