FCPO
FCPO 3rd Month Futures - 27 Feb 2025
Thu, 27-Feb-2025 08:32 am
by Dealing Team • Apex Futures

FCPO
Pivot
4592
Resistance
4565 / 4592 / 4617 / 4642
Support
4539 / 4515 / 4491 / 4465
Possible Range
4490 to 4590
Strategy
Long positions may be opened above 4592 with targets at 4617/4642 stop-loss at 4572
Short positions may be opened below 4592 with targets at 4565/4539 stop-loss at 4612

FCPO May month contract rose 46 points or 1.01% to closed higher at 4611. Malaysian crude palm oil futures climbed for a second consecutive session on Wednesday, driven by bargain buying despite a bearish outlook from industry analysts.

Overnight soybean oil for the May contract dropped 0.46 to closed lower at 45.59. Dalian’s active palm oil contract dropped 24 points to close lower at 9156 on previous night session.

The actively traded FCPO contract continues to consolidate sideways, with a narrowing range signaling a potential breakout in either direction. However, the bias remains tilted to the downside as prices trade below the mid-range of 4,585–4,590. The primary strategy is to sell on rebounds, with an expected move toward the 4,535–4,540 zone. A break below this level could extend declines toward 4,490–4,485. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4539 and 4565, 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