FCPO
FCPO 3rd Month Futures -5 June 2024
Wed, 05-Jun-2024 08:06 am
by Dealing Team • Apex Futures

FCPO
Pivot
3920
Resistance
3936 / 3962 / 4002 / 4029
Support
3895 / 3875 / 3854 / 3830
Possible Range
3870 to 4000
Strategy
Long positions may be opened above 3920 with targets at 3936/3962 stop-loss at 3890
Short positions may be opened below 3920 with targets at 3895/3875 stop-loss at 3950

FCPO Aug month dropped 155 points or 3.80% to close lower at 3921. On Tuesday, Malaysian palm oil futures experienced a decline of over 3% following the resumption of trading after a public holiday. The market was influenced by the downward trend in rival Dalian contracts and crude oil prices.

Overnight Soybean oil Jul Month fell 0.55 to 43.59. Soybean oil Futures ended lower. Dalian's most active palm oil contract rise 12 to 7624.

Following the mixed performance of rival oil performance, the FCPO could be in range-bound trading. The immediate support and resistant range spotted at 3895 and 3936.

(News Source: Reuters)

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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