FCPO
FCPO 3rd Month Futures - 29 May 2024
Wed, 29-May-2024 06:30 am
by Futures Dealing • Apex Futures

FCPO
Pivot
3935
Resistance
3966 / 3996 / 4013 / 4030
Support
3918 / 3901 / 3871 / 3840
Possible Range
3900 to 4000
Strategy
Long positions may be opened above 3940 with targets at 3996/4013 stop-loss at 3910
Short positions may be opened below 3940 with targets at 3918/3901 stop-loss at 3970

FCPO Aug month rose 93 points or 2.40% to 3963 closed higher. Malaysian palm oil futures rose on Tuesday to close over 2% higher after two straight sessions of falls, as gains in rival Dalian and Chicago oils and an improving export outlook underpinned the market.

Overnight Soybean oil Jul Month rose 0.57 to 44.95. Soybean oil Futures ended lower. Dalian's most active palm oil contract rose 104 to 7842

Following the bullish performance of soybean oil and dalian oil, the FCPO could trade higher. A break above 3968 (yesterday's high) would target 3996/4013 en route to 4030. On the flip side, the next support is located at 3935 (Pivot), followed by 3918 (S1), and finally 3873 (Yesterday’s low).

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.394436 4.427995
EUR 4.707703 4.715361
CNY 0.611400 0.611873
HKD 0.565257 0.569589
SGD 3.301255 3.326777