FCPO
FCPO 3rd Month Futures - 18 Feb 2025
Tue, 18-Feb-2025 08:37 am
by Dealing Team • Apex Futures

FCPO
Pivot
4519
Resistance
4542 / 4564 / 4590 / 4616
Support
4519 / 4494 / 4470 / 4447
Possible Range
4460 to 4560
Strategy
Long positions may be opened above 4542 with targets 4564/4590 at stop-loss at 4522
Short positions may be opened below 4542 with targets at 4519/4494 stop-loss at 4562

FCPO May month contract rose 43 points or 0.96% to closed higher at 4542. Malaysian crude palm oil futures recovered from earlier losses to close higher on Monday, though gains were limited by weaker soyoil prices and lower palm oil export estimates for the first half of February.

Soybean oil was closed yesterday for President’s Day and will resume trading today. Dalian’s active palm oil contract rose 16 points to close higher at 9058 on previous night session.

The actively traded FCPO contract remains in a wide sideways consolidation range with a downside bias. The price is facing resistance below the 4545–4550 zone, forming another lower high and a downward channel on the hourly chart. Given the current setup, a sell-on-rebound strategy is preferred, with the price likely to decline toward 4470–4465. A break below this level could extend the downside toward 4445–4440. However, if the resistance range is breached, an upside moves toward 4585–4590 could be expected. Stay alert to potential sentiment changes. The immediate support and resistance levels are pinpointed at 4519 and 4542, respectively.

(News Source: Reuters)

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Market Mover
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EUR 4.632284 4.636049
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