FCPO May month rose 58 points or 1.25% to closed higher at 4700 on midday session. Malaysian crude palm oil futures started higher on Friday, buoyed by gains in competing Dalian oils, and are poised for a fifth straight weekly increase, marking their longest winning streak in three years.
We remain in our view that the actively traded FCPO contract is holding above the upper boundary of a wide sideways consolidation range (4645–4650) on the daily chart, indicating support for further upside movement. The price is testing the 4690–4700 resistance level for the third time and is currently hovering within this range.
On the hourly chart, the price continues to move within an upward channel pattern, suggesting a bullish trend. We will monitor whether the resistance can be breached again, with potential upside targets at 4725 -4720 and a possible high of 4750-4745. However, if the price fails to break above the 4700 range, selling pressure may emerge, leading to consolidation. The immediate support and resistance levels are identified at 4691 and 4720, respectively.
(News Source: Reuters)
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| Stock | Last (RM) | Change (RM) | Volume |
|---|---|---|---|
| 0.080 | -0.030 | 284.56M | |
| 0.085 | 0.010 | 248.83M | |
| 0.105 | 0.010 | 174.78M | |
| 0.150 | -0.005 | 145.15M | |
| 0.080 | -0.030 | 134.38M | |
| 0.025 | -0.040 | 130.85M | |
| 0.135 | -0.025 | 114.79M | |
| 0.175 | 0.000 | 104.01M | |
| 0.355 | 0.010 | 77.18M | |
| 0.090 | -0.005 | 63.33M |
| Stock | Last (RM) | Change (RM) | Volume |
|---|---|---|---|
| 4.200 | 0.200 | 0.10K | |
| 17.540 | 0.200 | 10.60K | |
| 7.500 | 0.200 | 2.00K | |
| 0.410 | 0.160 | 50.10K | |
| 18.960 | 0.120 | 169.50K | |
| 1.080 | 0.110 | 501.80K | |
| 4.000 | 0.100 | 6.10K | |
| 0.230 | 0.095 | 97.10K | |
| 1.550 | 0.090 | 2.17M | |
| 22.980 | 0.080 | 806.40K |
| Stock | Last (RM) | Change (RM) | Volume |
|---|---|---|---|
| 19.540 | -0.440 | 208.00K | |
| 19.120 | -0.380 | 129.40K | |
| 17.500 | -0.300 | 1.80K | |
| 14.840 | -0.260 | 69.30K | |
| 4.090 | -0.250 | 4.55M | |
| 16.660 | -0.240 | 177.20K | |
| 0.405 | -0.225 | 1.20K | |
| 0.240 | -0.180 | 50.00K | |
| 16.840 | -0.160 | 27.20K | |
| 2.400 | -0.150 | 10.00K |
| Currency | Buy Rates (RM) | Sell Rates (RM) |
|---|---|---|
| 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 |
Last Updated: Tuesday, April 22, 2025
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