FCPO
FCPO 3rd Month Futures (PM) - 10 Feb 2025
Mon, 10-Feb-2025 02:25 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4508
Resistance
4508 / 4529 / 4550 / 4573
Support
4487 / 4458 / 4437 / 4415
Possible Range
4480 to 4580
Strategy
Long positions may be opened above 4529 with targets 4550/4573 at stop-loss at 4509
Short positions may be opened below 4529 with targets at 4508/4487 stop-loss at 4549

FCPO Apr month dropped 7 points or 0.16% to closed lower at 4497 on midday session. Malaysian crude palm oil futures opened higher on Monday, boosted by stronger rival Dalian oils. Traders are now awaiting export estimates from cargo surveyors and supply-and-demand data from the Malaysia Palm Oil Board (MPOB) for additional market direction.

The FCPO active month contract is displaying downward-biased momentum on a technical correction in the hourly chart. It is currently hovering around the support level of 4285–4290, with the resistance of the downward channel identified at 4525–4530. A breakout above this resistance could signal further gains, while failure to break may invite renewed selling pressure. In the bigger picture on the daily chart, the major resistance remains at the 4545–4550 range. The immediate support and resistance levels are identified at 4487 and 4508, 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