FCPO
FCPO 3rd Month Futures - 21 May 2024
Tue, 21-May-2024 06:45 am
by Futures Dealing • Apex Futures

FCPO
Pivot
3912
Resistance
3935 / 3953 / 3994 / 4014
Support
3903 / 3894 / 3883 / 3871
Possible Range
3850 to 4000
Strategy
Long positions may be opened above 3910 with targets at 3953/3994 stop-loss at 3880
Short positions may be opened below 3910 with targets at 3894/3871 stop-loss at 3940

FCPO Aug month rose 29 points or 0.75% to 3921 closed higher. Malaysian palm oil futures closed higher on Monday. The August contract, the most actively traded, rose 29 points or 0.75% to settle at 3,921, building on the gains observed in rival oils at the Dalian and Chicago markets.

Overnight Soybean oil Jul Month rose 1.05 to 46.32. Soybean oil Futures ended higher. Dalian's most active palm oil contract rose 64 to 7724

Following the bullish performance of soybean oil and dalian oil, the FCPO could trade higher. A break above 3929 (yesterday's high) would target 3953/3994 en route to 4014. On the flip side, the next support is located at 3912 (Pivot), followed by 3903 (S1), and finally 3888 (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 4.186146 4.219371
EUR 4.664934 4.669654
CNY 0.594782 0.595398
HKD 0.537928 0.541710
SGD 3.240672 3.263549