FCPO
FCPO 3rd Month Futures - 14 Mar 2025
Fri, 14-Mar-2025 08:26 am
by Dealing Team • Apex Futures

FCPO
Pivot
4527
Resistance
4548 / 4568 / 4589 / 4614
Support
4527 / 4506 / 4485 / 4464
Possible Range
4430 to 4530
Strategy
Long positions may be opened above 4527 with targets at 4548/4568 stop-loss at 4507
Short positions may be opened below 4527 with targets at 4506/4485 stop-loss at 4547

FCPO May month contract rose 52 point or 1.16% to closed higher at 4539. Malaysian crude palm oil futures closed higher on Thursday, supported by lower production levels, though gains were limited by ongoing concerns about demand from major importing countries.

Overnight soybean oil for the May contract dropped 0.40 to closed lower at 41.28. Dalian’s active palm oil contract rose 40 points to close higher at 9086 on previous night session.

The actively traded FCPO contract continues to move within a broad sideways consolidation and is currently hovering above the upper boundary of the range. On a larger scale, we see support in the 4435–4430 range. On the hourly chart, a minor consolidation is forming within an upward channel, with support at 4515–4510. Holding above this level could maintain an upside bias, while a breakout above the 4550–4545 resistance zone may push prices higher toward 4565–4570. However, failure to break resistance could trigger selling pressure. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4527 and 4548, respectively.

(News Source: Reuters)

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Market Mover
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EUR 5.008717 5.015095
CNY 0.603029 0.603828
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