FCPO
FCPO 3rd Month Futures (PM) - 20 Feb 2025
Thu, 20-Feb-2025 02:24 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4650
Resistance
4676 / 4697 / 4719 / 4745
Support
4650 / 4626 / 4601 / 4579
Possible Range
4500 to 4700
Strategy
Long positions may be opened above 4676 with targets 4697/4719 at stop-loss at 4656
Short positions may be opened below 4676 with targets at 4650/4626 stop-loss at 4696

FCPO May month dropped 15 points or 0.32% to closed lower at 4657 on midday session. Malaysian crude palm oil futures moved within a narrow range on Thursday as traders awaited export estimates for further direction.

The actively traded FCPO contract is trading above the upper boundary of the sideways consolidation range at 4650 to 4645, which we view as a crucial support level. If this range holds, prices may move higher toward the 4700 to 4695 zone, aligning with previous resistance. However, if 4650 to 4645 fails to hold, the price could shift to a downside bias, potentially declining toward the 4605 to 4610 range. The immediate support and resistance levels are identified at 4650 and 4676, respectively. 

(News Source: Reuters)

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Market Mover
Settlement Rates
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USD 4.352538 4.386792
EUR 5.042978 5.047979
CNY 0.599099 0.599744
HKD 0.561079 0.565009
SGD 3.342280 3.365777