FCPO
FCO 3rd Month Futures (PM) - 18 Feb 2025
Tue, 18-Feb-2025 02:23 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4516
Resistance
4538 / 4560 / 4581 / 4602
Support
4516 / 4493 / 4464 / 4441
Possible Range
4450 to 4550
Strategy
Long positions may be opened above 4516 with targets 4538/4560 at stop-loss at 4496
Short positions may be opened below 4516 with targets at 4493/4464 stop-loss at 4536

FCPO May month dropped 18 points or 0.40% to closed lower at 4524 on midday session. Malaysian crude palm oil futures opened lower on Tuesday, weighed down by weak performance in competing edible oils, though losses were cushioned by a weaker ringgit. 

The actively traded FCPO contract continues to consolidate within a wide sideways range, maintaining a downside bias. The price is confined within a descending triangle, with resistance at 4540–4545 and support at 4510–4515. On the hourly chart, the price remains within a downward channel. Given this setup, a sell-on-rebound strategy is preferred, as a break below the support level could push prices toward 4490–4495, or even lower to 4460–4465. However, if the price holds above 4510–4515, a buying opportunity may emerge. The immediate support and resistance levels are identified at 4516 and 4538, respectively. 

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.400379 4.430934
EUR 4.814360 4.819033
CNY 0.609971 0.610580
HKD 0.566392 0.570331
SGD 3.304308 3.327507