FCPO
FCPO 3rd Month Futures - 7 Mar 2025
Fri, 07-Mar-2025 08:34 am
by Dealing Team • Apex Futures

FCPO
Pivot
4447
Resistance
4495 / 4518 / 4544 / 4565
Support
4469 / 4447 / 4425 / 4400
Possible Range
4450 to 4550
Strategy
Long positions may be opened above 4469 with targets at 4495/4518 stop-loss at 4449
Short positions may be opened below 4469 with targets at 4447/4425 stop-loss at 4489

FCPO May month contract rose 63 points or 1.43% to closed higher at 4480. Malaysian crude palm oil futures climbed on Thursday, following gains in rival oils on the Dalian and Chicago markets, though concerns over U.S. tariffs limited the upside.

Overnight soybean oil for the May contract rose 0.18 to closed higher at 43.17. Dalian’s active palm oil contract rose 126 points to close lower at 8976 on previous night session.

The actively traded FCPO contract remains in a broader sideways consolidation. The price has risen for two consecutive sessions, recovering losses from March 4, with the potential to move higher. On the hourly chart, the price has broken above the resistance line of the downward channel at 4470–4465, which now acts as support. We suggest buying on retracement, with resistance expected at 4495–4500. A breakout above this level could lead to further upside. However, if the resistance holds and the price fails to break through, selling pressure may emerge. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4469 and 4495, respectively.

(News Source: Reuters)

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Market Mover
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USD 4.393408 4.428928
EUR 5.005959 5.023744
CNY 0.602745 0.604678
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