FCPO
FCPO 3rd Month Futures - 5 Mar 2025
Wed, 05-Mar-2025 08:27 am
by Dealing Team • Apex Futures

FCPO
Pivot
4396
Resistance
4367 / 4396 / 4423 / 4447
Support
4333 / 4308 / 4284 / 4259
Possible Range
4290 to 4390
Strategy
Long positions may be opened above 4350 with targets at 4367/4396 stop-loss at 4330
Short positions may be opened below 4350 with targets at 4333/4308 stop-loss at 4370

FCPO May month contract dropped 135 points or 3.01% to closed lower at 4349. Malaysian crude palm oil futures ended lower on Tuesday, pressured by weaker Dalian oils and worries over China's potential retaliation against new U.S. tariffs on Chinese goods.

Overnight soybean oil for the May contract dropped 0.65 to closed lower at 42.84. Dalian’s active palm oil contract dropped 120 points to close lower at 8790 on previous night session.

The actively traded FCPO contract extended its decline in the previous session after breaking below the crucial support range of 4,420–4,425, which also represents the mid-point of the sideways range. This breakdown suggests continued downside momentum, with a "sell on rebound" strategy remaining the key approach. A new support zone has formed at 4,330–4,335; if this level holds, technical buying could emerge, though with limited upside. The nearest resistance is at 4,365–4,370. However, if the support fails, prices may decline further toward the 4,290–4,280 range. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4333 and 4367, respectively.

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.393408 4.428928
EUR 5.005959 5.023744
CNY 0.602745 0.604678
HKD 0.565674 0.570807
SGD 3.346150 3.376734