FCPO
FCPO 3rd Month Futures - 4 June 2024
Tue, 04-Jun-2024 08:38 am
by Dealing Team • Apex Futures

FCPO
Pivot
4045
Resistance
4081 / 4119 / 4141 / 4163
Support
4043 / 4022 / 4000 / 3963
Possible Range
4020 to 4140
Strategy
Long positions may be opened above 4045 with targets at 4081/4119 stop-loss at 4015
Short positions may be opened below 4045 with targets at 4022/4000 stop-loss at 4075

FCPO Aug month rose 83 points or 2.08% to close higher at 4076. Malaysian palm oil futures climbed on Friday, buoyed by expectations of higher exports, with May's exports estimated to have risen by over 22% according to Intertek Testing Services and AmSpec Agri Malaysia.

Overnight Soybean oil Jul Month fell 1.38 to 44.14. Soybean oil Futures ended lower. Dalian's most active palm oil contract fell 164 to 7616.

Following the bearish performance of soybean oil and dalian oil, the FCPO could trade lower. The immediate support and resistant range spotted at 4040 and 4081.

(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 4.186095 4.224386
EUR 4.685732 4.700656
CNY 0.595462 0.596801
HKD 0.537358 0.541779
SGD 3.239345 3.269267