FCPO
FCPO 3rd Month Futures - 7 Feb 2025
Fri, 07-Feb-2025 08:38 am
by Dealing Team • Apex Futures

FCPO
Pivot
4381
Resistance
4413 / 4437 / 4461 / 4484
Support
4381 / 4359 / 4335 / 4312
Possible Range
4370 to 4470
Strategy
Long positions may be opened above 4413 with targets 4437/4461 at stop-loss at 4393
Short positions may be opened below 4313 with targets at 4381/4359 stop-loss at 4433

FCPO Apr month contract rose 69 points or 1.59% to closed higher at 4403. Malaysian crude palm oil futures climbed for the second straight session on Thursday, supported by anticipated production declines, although gains were limited by weak demand from major importing nations.

Overnight soybean oil for the March contract rose 0.31 to closed higher at 45.40. Dalian’s active palm oil contract rose 88 points to close higher at 8722 on previous night session.

The FCPO active contract broke above the downward channel's resistance, now adjusted to 4380–4385, and tested the 4410–4415 zone for the third time, signaling a potential breakout from the downtrend daily chart. Currently consolidating sideways within an upward channel on the hourly chart, buying on retracements is suggested. A strong breakout above 4415 could lead to further gains, while failure may trigger selling pressure. The immediate support and resistance levels are pinpointed at 4381 and 4413, 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