FCPO
FCPO 3rd Month Futures - 25 Feb 2025
Tue, 25-Feb-2025 08:38 am
by Dealing Team • Apex Futures

FCPO
Pivot
4577
Resistance
4555 / 4577 / 4603 / 4629
Support
4530 / 4508 / 4485 / 4462
Possible Range
4470 to 4570
Strategy
Long positions may be opened above 4555 with targets at 4577/4603 stop-loss at 4535
Short positions may be opened below 4555 with targets at 4530/4508 stop-loss at 4575

FCPO May month contract dropped 105 points or 2.25% to closed lower at 4559. Malaysian crude palm oil futures edged lower on Monday, influenced by declines in rival oils on the Dalian and Chicago markets.

Overnight soybean oil for the May contract dropped 1.04 to closed lower at 46.30. Dalian’s active palm oil contract dropped 110 points to close lower at 9158 on previous night session.

The previously upward channel appears to have failed to form on the daily chart, as the actively traded FCPO contract struggled to break above the resistance at 4700–4705. The sideways consolidation pattern has become more established, with prices now trading below the midpoint of the 4580–4575 range, which acts as the major resistance level for upside. A rebound sell strategy remains the primary approach, potentially driving prices toward the 4480–4485 support zone at the bottom of the sideways range. Beware o sentiment changes. The immediate support and resistance levels are pinpointed at 4530 and 4555, respectively.

(News Source: Reuters)

Read more details in:

Disclaimer

The report is for internal and private circulation only and shall not be reproduced either in part or otherwise without the prior written consent of Apex Securities Berhad. The opinions and information contained herein are based on available data believed to be reliable. It is not to be construed as an offer, invitation or solicitation to buy or sell the securities covered by this report.

Opinions, estimates and projections in this report constitute the current judgment of the author. They do not necessarily reflect the opinion of Apex Securities Berhad and are subject to change without notice. Apex Securities Berhad has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

Apex Securities Berhad does not warrant the accuracy of anything stated herein in any manner whatsoever and no reliance upon such statement by anyone shall give rise to any claim whatsoever against Apex Securities Berhad. Apex Securities Berhad may from time to time have an interest in the company mentioned by this report. This report may not be reproduced, copied or circulated without the prior written approval of Apex Securities Berhad.

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