FCPO
FCPO 3rd Month Futures (PM) - 25 Feb 2025
Tue, 25-Feb-2025 02:25 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4590
Resistance
4617 / 4640 / 4663 / 4684
Support
4590 / 4568 / 4547 / 4525
Possible Range
4570 to 4670
Strategy
Long positions may be opened above 4590 with targets 4617/4640 at stop-loss at 4570
Short positions may be opened below 4590 with targets at 4568/4547 stop-loss at 4610

FCPO May month rose 52 points or 1.14% to closed higher at 4611 on midday session. Malaysian crude palm oil futures rose on Tuesday, supported by gains in rival oils on the Dalian and Chicago markets, while concerns over potential supply tightness this month provided additional upward momentum.

 

We maintain our view that the actively traded FCPO contract is moving within a sideways consolidation pattern. During the morning session, prices dipped to the 4525–4530 range before recovering above the midpoint of 4580–4575. In this scenario, we consider a buying plan if prices remain above the first support range 4595–4590 range. However, if they fail to sustain this level, a selling strategy would be more appropriate. The immediate support and resistance levels are identified at 4590 and 4617, respectively. 

(News Source: Reuters)

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Market Mover
Settlement Rates
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