FCPO
FCPO 3rd Month Futures - 13 Mar 2025
Thu, 13-Mar-2025 08:39 am
by Dealing Team • Apex Futures

FCPO
Pivot
4495
Resistance
4495 / 4516 / 4538 / 4563
Support
4473 / 4449 / 4428 / 4402
Possible Range
4430 to 4530
Strategy
Long positions may be opened above 4473 with targets at 4495/4516 stop-loss at 4453
Short positions may be opened below 4473 with targets at 4449/4428 stop-loss at 4493

FCPO May month contract dropped 1 point or 0.02% to closed almost flat at 4487. Malaysian crude palm oil futures moved within a narrow range on Wednesday, supported by stronger Dalian palm olein prices, while weaker soyoil prices limited gains.

Overnight soybean oil for the May contract dropped 0.25 to closed lower at 41.68. Dalian’s active palm oil contract rose 28 points to close higher at 9028 on previous night session.

The actively traded FCPO contract continues to consolidate within a wide sideways range and is currently hovering around the mid-point. On a smaller timeframe, it is trading within a narrow range inside a slight upward consolidation channel. Support is seen between 4,475 and 4,470. If the price holds above this level, it may maintain an upward trading pattern, potentially moving toward the 4,520–4,515 range. A breakout above this level could lead to further gains. However, if the price fails to hold above 4,475–4,470, it may decline toward the previous support zone at 4,450–4,445. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4473 and 4495, respectively.

(News Source: Reuters)

Read more details in:

Disclaimer

The report is for internal and private circulation only and shall not be reproduced either in part or otherwise without the prior written consent of Apex Securities Berhad. The opinions and information contained herein are based on available data believed to be reliable. It is not to be construed as an offer, invitation or solicitation to buy or sell the securities covered by this report.

Opinions, estimates and projections in this report constitute the current judgment of the author. They do not necessarily reflect the opinion of Apex Securities Berhad and are subject to change without notice. Apex Securities Berhad has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

Apex Securities Berhad does not warrant the accuracy of anything stated herein in any manner whatsoever and no reliance upon such statement by anyone shall give rise to any claim whatsoever against Apex Securities Berhad. Apex Securities Berhad may from time to time have an interest in the company mentioned by this report. This report may not be reproduced, copied or circulated without the prior written approval of Apex Securities Berhad.

Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 3.949404 3.981238
EUR 4.633763 4.638745
CNY 0.579561 0.580180
HKD 0.504449 0.508017
SGD 3.094283 3.116286