FCPO
FCPO 3rd Month Futures (PM) - 20 Mar 2025
Thu, 20-Mar-2025 02:27 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4418
Resistance
4445 / 4473 / 4490 / 4512
Support
4418 / 4394 / 4370 / 4345
Possible Range
4360 to 4460
Strategy
Long positions may be opened above 4445 with targets 4473/4490 at stop-loss at 4425
Short positions may be opened below 4445 with targets at 4418/4394 stop-loss at 4465

FCPO Jun month rose 49 points or 1.12% to closed higher at 4438 on midday session. Malaysian crude palm oil futures opened higher for the second consecutive session on Thursday, driven by gains in rival soyoil on the Chicago market and strength in crude oil.

The actively traded FCPO contract continues to consolidate within a wide-ranging sideways pattern on the daily chart, hovering around the key resistance zone of 4445-4440. This level also marks the midpoint of the range following a gap-up in the morning session, reinforcing the prevailing downside bias. The price is likely to move toward the 4390-4395 zone unless it breaks above the resistance range, which could present a buying opportunity. Stay cautious of potential shifts in market sentiment. The immediate support and resistance levels are identified at 4418 and 4445, respectively. 

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.451181 4.487974
EUR 4.938764 4.946105
CNY 0.607808 0.608296
HKD 0.573694 0.577958
SGD 3.324704 3.349527