FCPO
FCPO 3rd Month Futures - 21 Mar 2025
Fri, 21-Mar-2025 08:21 am
by Dealing Team • Apex Futures

FCPO
Pivot
4413
Resistance
4438 / 4463 / 4488 / 4513
Support
4413 / 4388 / 4363 / 4338
Possible Range
4385 to 4485
Strategy
Long positions may be opened above 4413 with targets at 4438/4463 stop-loss at 4393
Short positions may be opened below 4413 with targets at 4388/4363 stop-loss at 4433

FCPO Jun month contract rose 24 points or 0.55% to closed higher at 4413. Malaysian crude palm oil futures rose for the second consecutive session on Thursday, driven by gains in the Dalian market and recently released export data from surveyors.

Overnight soybean oil for the May contract rose 0.35 to closed higher at 42.71. Dalian’s active palm oil contract rose 68 points to close higher at 9130 on previous night session.

The actively traded FCPO contract remains in a wide-range sideways consolidation on the daily chart, staying below the key resistance zone of 4,430–4,425, indicating a downside bias. On the hourly chart, the price is moving within a minor sideways range, with support at 4,385–4,390. Holding above this range could maintain a buy strategy with limited upside potential toward the resistance at 4,440–4,435. A breakout above this resistance may lead to further gains. However, if the price fails to hold above 4,385–4,390, selling opportunities may arise, targeting 4,360–4,365 or lower. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4413 and 4438, respectively.

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.425747 4.460392
EUR 4.895220 4.904713
CNY 0.606938 0.608107
HKD 0.568828 0.573311
SGD 3.311739 3.338136