FCPO
FCPO 3rd Month Futures - 27 May 2024
Mon, 27-May-2024 06:35 am
by Futures Dealing • Apex Futures

FCPO
Pivot
3898
Resistance
3909 / 3920 / 3937 / 3954
Support
3881 / 3864 / 3853 / 3842
Possible Range
3800 to 3950
Strategy
Long positions may be opened above 3900 with targets at 3920/3954 stop-loss at 3870
Short positions may be opened below 3900 with targets at 3881/3842 stop-loss at 3930

FCPO Aug month fell 9 points or 0.23% to 3885 closed lower. Malaysian palm oil futures erased early gains to end lower on Friday as a recovery in production offset the weakness of the Malaysian ringgit and expectations of improved demand after the prices of rival soft oils rallied more than palm oil this week.

Overnight Soybean oil Jul Month fell 0.24 to 44.95. Soybean oil Futures ended lower. Dalian's most active palm oil contract fell 8 to 7622

Following the bearish performance of soybean oil and dalian oil, the FCPO could trade within the range. A break below 3876 (yesterday's low) would target 3864/3853 en route to 3842. On the flip side, the next resistance is located at 3898 (Pivot), followed by 3909 (R1), and finally 3932 (Yesterday’s high).

(News Source: Reuters)

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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