FCPO
FCPO 3rd Month Futures - 10 June 2024
Mon, 10-Jun-2024 08:41 am
by Dealing Team • Apex Futures

FCPO
Pivot
3989
Resistance
4000 / 4036 / 4050 / 4075
Support
3962 / 3933 / 3899 / 3870
Possible Range
3940 to 4030
Strategy
Long positions may be opened above 3995 with targets at 4036/4050 stop-loss at 3965
Short positions may be opened below 3995 with targets at 3962/3933 stop-loss at 4025

FCPO Aug month rose 15 points or 0.38% to close higher at 3975. Malaysian palm oil experienced its second consecutive rise on Friday, following the upward trend in crude oil prices, despite ending the week with a loss.

Attention is now focused on the release of the Malaysian Palm Oil Board's (MPOB) monthly data on June 10. A Reuters poll suggests that palm oil inventories at the end of May may have reached 1.75 million metric tons, a slight increase of 0.39% from April.

Overnight Soybean oil Jul Month down 0.72 to 43.63. Soybean oil Futures ended lower. Dalian's most active palm oil contract increased 156 to 7800, the market is closed today due to the Duanwu Festival.

Following the bearish performance of CBOT soyoil, the FCPO could trade lower. The immediate support and resistant range spotted at 3962 and 4000.

(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