FCPO
FCPO 3rd Month Futures - 19 Feb 2025
Wed, 19-Feb-2025 08:37 am
by Dealing Team • Apex Futures

FCPO
Pivot
4513
Resistance
4563 / 4585 / 4607 / 4631
Support
4539 / 4513 / 4490 / 4466
Possible Range
4500 to 4600
Strategy
Long positions may be opened above 4539 with targets 4563/4585 at stop-loss at 4519
Short positions may be opened below 4539 with targets at 4513/4490 stop-loss at 4559

FCPO May month contract dropped 38 points or 0.84% to closed lower at 4504. Malaysian crude palm oil futures declined on Tuesday, following weaker rival edible oils, as traders awaited bullish signals to support prices.

Overnight soybean oil for the May contract rose 1.22 to closed higher at 47.74. Dalian’s active palm oil contract rose 76 points to close higher at 9124 on previous night session.

The actively traded FCPO contract remains within a wide sideways range, with the broader trend still negative. On the hourly chart, sentiment appears neutral as the price finds support around 4485–4490, marking the lower boundary of the minor sideways range, while resistance is seen at 4555–4560. The primary strategy is to buy on retracement—if the price pulls back to 4535–4540 and holds, an upside moves toward 4585–4590 is possible. However, if support fails, the price could retreat back to bottom and continue in consolidation. Stay alert to potential sentiment changes. The immediate support and resistance levels are pinpointed at 4539 and 4563, respectively.

(News Source: Reuters)

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