FCPO
FCPO 3rd Month Futures - 11 June 2024
Tue, 11-Jun-2024 08:24 am
by Dealing Team • Apex Futures

FCPO
Pivot
3931
Resistance
3961 / 3975 / 3997 / 4019
Support
3903 / 3887 / 3864 / 3843
Possible Range
3880 to 4000
Strategy
Long positions may be opened above 3940 with targets at 3961/3975 stop-loss at 3910
Short positions may be opened below 3940 with targets at 3903/3887 stop-loss at 3970

FCPO Aug month dipped 56 points or 1.41% to close lower at 3919. Malaysian palm oil futures followed a downward trend in line with Chicago soyoil on Monday, as traders exercised caution ahead of a data release by the Malaysia Palm Oil Board.

The country's palm oil reserves slightly increased to a three-month peak in May, as robust exports were counterbalanced by a resurgence in production, as reported by the industry regulator on Monday.

Overnight Soybean oil Jul Month rise 0.03 to 43.66. Soybean oil Futures ended moderately higher. Dalian market will resume trading today from the holiday.

Following the slightly upward performance of CBOT soyoil, the FCPO could trade in range bound. The immediate support and resistant range spotted at 3903 and 3961.

(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