FCPO
FCPO 3rd Month Futures - 3 Mar 2025
Mon, 03-Mar-2025 08:38 am
by Dealing Team • Apex Futures

FCPO
Pivot
4536
Resistance
4560 / 4584 / 4609 / 4634
Support
4536 / 4514 / 4488 / 4463
Possible Range
4448 to 4580
Strategy
Long positions may be opened above 4536 with targets at 4560/4584 stop-loss at 4516
Short positions may be opened below 4536 with targets at 4514/4488 stop-loss at 4556

FCPO May month contract rose 43 points or 0.95% to closed higher at 4554. Malaysian crude palm oil futures rose on Friday, poised for their first monthly gain in three months, supported by strength in rival oils and a weaker Malaysian ringgit.

Overnight soybean oil for the May contract dropped 1.23 to closed lower at 44.12. Dalian’s active palm oil contract rose 8 points to close slightly higher at 9092 on previous night session.

The actively traded FCPO contract continues to trade within a sideways consolidation range, hovering near the lower end. The market may lean toward a downward bias today, with resistance observed at 4560–4565. A breakout above this level could push prices higher. Meanwhile, crucial support is seen at 4490–4485—if this zone holds, buying interest may emerge, but failure to hold could trigger selling pressure. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4536 and 4560, respectively.

(News Source: Reuters)

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Market Mover
Settlement Rates
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EUR 5.005959 5.023744
CNY 0.602745 0.604678
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