FCPO
FCPO 3rd Month Futures (PM) - 12 Feb 2025
Wed, 12-Feb-2025 02:31 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4678
Resistance
4704 / 4728 / 4750 / 4776
Support
4678 / 4656 / 4633 / 4607
Possible Range
4650 to 4750
Strategy
Long positions may be opened above 4704 with targets 4728/4750 at stop-loss at 4684
Short positions may be opened below 4704 with targets at 4678/4656 stop-loss at 4724

FCPO Apr month surged 102 points or 2.22% to closed higher at 4695 on midday session. Malaysian crude palm oil futures extended gains on Wednesday as trading resumed after a public holiday, driven by stronger prices in competing edible oils. 

The actively traded FCPO contract continues to rise, breaking above the 4,650–4,645 resistance range, which now acts as major support. In the shorter timeframe, the price is consolidating within a tight range, with support at 4,675–4,680 and resistance at 4,705–4,700. A breakout in either direction could set the trend—breaking below may trigger a technical correction toward 4,660–4,655, while a breakout above could push prices toward 4,750–4,745. The immediate support and resistance levels are identified at 4678 and 4704, respectively. 

(News Source: Reuters)

Read more details in:

Disclaimer

The report is for internal and private circulation only and shall not be reproduced either in part or otherwise without the prior written consent of Apex Securities Berhad. The opinions and information contained herein are based on available data believed to be reliable. It is not to be construed as an offer, invitation or solicitation to buy or sell the securities covered by this report.

Opinions, estimates and projections in this report constitute the current judgment of the author. They do not necessarily reflect the opinion of Apex Securities Berhad and are subject to change without notice. Apex Securities Berhad has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

Apex Securities Berhad does not warrant the accuracy of anything stated herein in any manner whatsoever and no reliance upon such statement by anyone shall give rise to any claim whatsoever against Apex Securities Berhad. Apex Securities Berhad may from time to time have an interest in the company mentioned by this report. This report may not be reproduced, copied or circulated without the prior written approval of Apex Securities Berhad.

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