FCPO
FCPO 3rd Month Futures (PM) - 7 Feb 2025
Fri, 07-Feb-2025 02:25 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4461
Resistance
4504 / 4530 / 4551 / 4575
Support
4482 / 4461 / 4439 / 4415
Possible Range
4440 to 4540
Strategy
Long positions may be opened above 4504 with targets 4530/4551 at stop-loss at 4484
Short positions may be opened below 4504 with targets at 4482/4461 stop-loss at 4524

FCPO Apr month rose 92 points or 2.09% to closed higher at 4495 on midday session. 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.

The FCPO active month contract has decisively broken above the resistance line of the downward channel on the daily chart at 4410–4415, signaling a shift out of the downtrend and a move toward an upward trajectory. We anticipate the price to continue trending higher, targeting the next major resistance at 4545–4550. Support is identified at 4480–4485. The immediate support and resistance levels are identified at 4482 and 4504, 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