FCPO
FCPO 3rd Month Futures (PM) - 6 Mar 2025
Thu, 06-Mar-2025 02:30 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4407
Resistance
4434 / 4456 / 4482 / 4505
Support
4407 / 4385 / 4361 / 4336
Possible Range
4340 to 4440
Strategy
Long positions may be opened above 4407 with targets 4434/4456 at stop-loss at 4387
Short positions may be opened below 4407 with targets at 4385/4361 stop-loss at 4427

FCPO May month rose 2 points or 0.05% to closed slightly higher at 4419 on midday session. Malaysian palm oil futures rose for the second consecutive session on Thursday, following gains in rival oils on the Dalian and Chicago markets.

 

The actively traded FCPO contract has seen a slight recovery from the previous session's decline but continues to trade within a broad sideways range, staying below the 4,420–4,425 midpoint. Yesterday, the price tested this level, triggering selling pressure and reinforcing a downside bias. However, the latest movement appears neutral, with prices fluctuating in a narrow range. Immediate support has moved up to 4,400–4,405, where a rebound to the midpoint could present a selling opportunity. Conversely, a break above the midpoint may attract buying interest. Stay alert for potential sentiment shifts. The immediate support and resistance levels are identified at 4407 and 4434, respectively. 

(News Source: Reuters)

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