FCPO
FCPO 3rd Month Futures - 14 Feb 2025
Fri, 14-Feb-2025 08:40 am
by Dealing Team • Apex Futures

FCPO
Pivot
4586
Resistance
4586 / 4607 / 4630 / 4653
Support
4561 / 4538 / 4516 / 4494
Possible Range
4520 to 4620
Strategy
Long positions may be opened above 4586 with targets 4607/4630 at stop-loss at 4566
Short positions may be opened below 4586 with targets at 4561/4538 stop-loss at 4606

FCPO Apr month contract dropped 67 points or 1.45% to closed lower at 4554. Malaysian crude palm oil futures fell on Thursday, ending a five-session winning streak, as weaker Dalian oils and a drop in crude oil prices, driven by talks to resolve the Ukraine-Russia war, pressured the market.

Overnight soybean oil for the May contract rose 0.55 to closed higher at 46.68. Dalian’s active palm oil contract dropped 48 points to close lower at 8996 on previous night session.

The actively traded FCPO contract attempted twice to break above the 4,645–4,650 resistance range on the daily chart but failed, leading to sideways consolidation. Currently, prices are trading below the top of this range, indicating a downward bias. On the hourly chart, the price is hovering above the uptrend support at 4,540–4,545. A break below this support could signal further technical correction. However, if the range holds, it may present a potential buying opportunity. Stay alert to potential sentiment changes. The immediate support and resistance levels are pinpointed at 4561 and 4586, 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 4.373934 4.410372
EUR 5.042813 5.050176
CNY 0.599605 0.600475
HKD 0.564059 0.568245
SGD 3.346566 3.371656