FCPO
FCPO 3rd Month Futures (PM) - 4 Feb 2025
Tue, 04-Feb-2025 02:18 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4313
Resistance
4292 / 4313 / 4335 / 4360
Support
4272 / 4251 / 4232 / 4210
Possible Range
4255 to 4355
Strategy
Long positions may be opened above 4272 with targets 4292/4313 at stop-loss at 4252
Short positions may be opened below 4272 with targets at 4251/4232 stop-loss at 4292

FCPO Apr month dipped 90 points or 2.06% to closed lower at 4277 on midday session. Malaysian crude palm oil futures declined on Tuesday, snapping a five-day winning streak, pressured by weaker Chicago soyoil and crude oil prices.

The FCPO active month faced resistance at 4410–4415 and failed to hold above the 4360–4365 support range, trading lower in line with weakness in the soyoil market. Prices remain within the downward channel, with selling on rebounds as the primary strategy. On the hourly chart, the price is hovering near the 4270–4275 support range, with the lowest level observed at 4250–4255, which aligns with the retracement support from the uptrend since January 28. Failure to hold this level could trigger further selling, while holding support may invite buying interest. Beware of any sentiment changes. The immediate support and resistance levels are identified at 4272 and 4292, respectively. 

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 3.952219 3.979032
EUR 4.632284 4.636049
CNY 0.579684 0.580150
HKD 0.504395 0.507834
SGD 3.092296 3.113419