FCPO
FCPO 3rd Month Futures (PM) - 24 Feb 2025
Mon, 24-Feb-2025 02:18 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4599
Resistance
4599 / 4622 / 4646 / 4670
Support
4573 / 4549 / 4526 / 4505
Possible Range
4660 to 4760
Strategy
Long positions may be opened above 4599 with targets 4622/4646 at stop-loss at 4579
Short positions may be opened below 4599 with targets at 4573/4549 stop-loss at 4619

FCPO May month dropped 73 points or 1.57% to closed lower at 4591 on midday session. Malaysian crude palm oil futures declined on Monday, influenced by weaker performance in the Dalian and Chicago markets.

 

The actively traded FCPO contract remains within an upward channel on the daily timeframe. The price is hovering around the 4580–4575 level, which serves as immediate support, the morning session low, and the mid-range of the sideways movement on the hourly timeframe. If this support holds, a buying opportunity may arise, potentially pushing the price back to 4645–4650. However, if the support fails, further selling pressure could drive the price down toward 4550–4540. The immediate support and resistance levels are identified at 4573 and 4599, respectively. 

(News Source: Reuters)

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Market Mover
Settlement Rates
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