FCPO
FCPO 3rd Month Futures - 13 June 2024
Thu, 13-Jun-2024 08:37 am
by Dealing Team • Apex Futures

FCPO
Pivot
3955
Resistance
3975 / 3995 / 4012 / 4028
Support
3950 / 3939 / 3922 / 3902
Possible Range
3910 to 4000
Strategy
Long positions may be opened above 3960 with targets at 3975/3995 stop-loss at 3930
Short positions may be opened below 3960 with targets at 3950/3939 stop-loss at 3990

FCPO Aug month rose 32 points or 0.81% to close higher at 3963. On Wednesday, Malaysian palm oil futures increased, mirroring the uptick seen in Chicago soyoil and crude oil prices.

Overnight Soybean oil Jul Month rose 0.12 to 43.79. Soybean oil Futures closed higher. Dalian’s active palm oil contract rose 10 to 7688.

Observing the mildly bullish performance in rival edible oils market, the palm price likely to trade in range bound, with some upside bias. The immediate support and resistance levels are identified at 3950 and 3975, respectively.

(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