FCPO
FCPO 3rd Month Futures - 6 Mar 2025
Thu, 06-Mar-2025 08:37 am
by Dealing Team • Apex Futures

FCPO
Pivot
4390
Resistance
4390 / 4415 / 4438 / 4460
Support
4368 / 4343 / 4318 / 4292
Possible Range
4340 to 4440
Strategy
Long positions may be opened above 4390 with targets at 4415/4438 stop-loss at 4370
Short positions may be opened below 4390 with targets at 4368/4343 stop-loss at 4410

FCPO May month contract rose 68 points or 1.56% to closed higher at 4417. Malaysian crude palm oil futures climbed on Wednesday, breaking a two-session losing streak, tracking gains in the Chicago soyoil market as traders awaited data from the Malaysian Palm Oil Board (MPOB).

Overnight soybean oil for the May contract rose 0.15 to closed higher at 42.99. Dalian’s active palm oil contract dropped 20 points to close lower at 8772 on previous night session.

The actively traded FCPO contract has recovered slightly from the previous session's decline but continues to trade within a broad sideways range, remaining below the midpoint of 4,420–4,425. Yesterday, the price touched the midpoint, triggering selling pressure, indicating a continued downside bias. However, the latest movement appears neutral, with prices fluctuating within a narrow range. Immediate support is observed at 4,365–4,360, where a rebound could present buying opportunities toward 4,390–4,395. A break below support may trigger further selling, potentially testing key support at 4,345–4,340 or even lower. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4368 and 4390, 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