FCPO
FCPO 3rd Month Futures - 19 Mar 2025
Wed, 19-Mar-2025 08:41 am
by Dealing Team • Apex Futures

FCPO
Pivot
4407
Resistance
4383 / 4407 / 4432 / 4456
Support
4362 / 4333 / 4304 / 4280
Possible Range
4330 to 4430
Strategy
Long positions may be opened above 4383 with targets at 4407/4432 stop-loss at 4363
Short positions may be opened below 4383 with targets at 4362/4333 stop-loss at 4403

FCPO Jun month contract dropped 108 points or 2.41% to closed lower at 4366. Malaysian crude palm oil futures ended lower on Monday, influenced by the performance of rival edible oils on the Dalian market, while weak export data limited gains.

Overnight soybean oil for the May contract rose 0.44 to closed higher at 42.54. Dalian’s active palm oil contract rose 102 points to close higher at 9110 on previous night session.

The actively traded FCPO contract is currently the June contract. From a broader perspective, the price remains in a wide-ranging sideways consolidation but has broken below a key support level at 4430-4425, signaling a continuation of the downside bias. On the hourly chart, the price is hovering near the support zone of a smaller sideways range. A crucial support area is seen at 4300-4305—holding above this level could sustain the uptrend that has been building since mid-January 2025. Resistance is observed at 4385-4380; a breakout above this level could trigger further buying towards 4410-4405. However, failure to break above may invite renewed selling pressure. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4362 and 4383, respectively.

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.390206 4.425718
EUR 5.008717 5.015095
CNY 0.603029 0.603828
HKD 0.565660 0.569770
SGD 3.345779 3.370205