FCPO
FCPO 3rd Month Futures - 14 June 2024
Fri, 14-Jun-2024 08:38 am
by Dealing Team • Apex Futures

FCPO
Pivot
3948
Resistance
3954 / 3975 / 3997 / 4028
Support
3920 / 3897 / 3878 / 3860
Possible Range
3900 to 3980
Strategy
Long positions may be opened above 3950 with targets at 3975/3997 stop-loss at 3920
Short positions may be opened below 3950 with targets at 3920/3897 stop-loss at 3980

FCPO Aug month dropped 27 points or 0.68% to close lower at 3936. Malaysian palm oil futures ended a two-day run of gains by dropping on Thursday, influenced by softer Chicago soyoil and crude prices, along with a stronger ringgit which further contributed to the decline.

Overnight Soybean oil Jul Month rose 0.07 to 43.86. Soybean oil Futures closed higher. Dalian’s active palm oil contract dropped 38 to 7688 at yesterday night session.

Tracking the mixed performance in competing edible oils markets, palm prices are anticipated to trade within a range, showing a sideways bias. The immediate support and resistance levels are pinpointed at 3920 and 3954, 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