FCPO
FCPO 3rd Month Futures (PM) - 7 Mar 2025
Fri, 07-Mar-2025 02:25 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4505
Resistance
4527 / 4548 / 4570 / 4593
Support
4505 / 4482 / 4460 / 4435
Possible Range
4460 to 4560
Strategy
Long positions may be opened above 4505 with targets 4527/4548 at stop-loss at 4485
Short positions may be opened below 4505 with targets at 4482/4460 stop-loss at 4525

FCPO May month rose 42 points or 0.94% to closed higher at 4522 on midday session. Malaysian palm oil futures inched higher on Friday, following the movement of rival oils in the Dalian market, but remained on track for a second consecutive weekly decline.

The actively traded contract is moving within a broad sideways consolidation but maintains an overall upward bias, as the price remains above the mid-range of 4420 to 4425. On the hourly timeframe, the price has broken above the resistance zone of 4495 to 4500, which now acts as a support range. Any pullback to this level that holds could sustain a buying strategy. On the upside, the key resistance level is seen at 4470 to 4465. Stay alert for potential sentiment shifts. The immediate support and resistance levels are identified at 4505 and 4527, 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