FCPO
FCPO 3rd Month Futures (PM) - 21 Mar 2025
Fri, 21-Mar-2025 02:27 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4403
Resistance
4423 / 4445 / 4471 / 4494
Support
4403 / 4382 / 4360 / 4334
Possible Range
4360 to 4460
Strategy
Long positions may be opened above 4423 with targets 4445/4471 at stop-loss at 4403
Short positions may be opened below 4423 with targets at 4403/4382 stop-loss at 4443

FCPO Jun month rose 5 points or 0.11% to closed higher at 4418 on midday session. Malaysian crude palm oil futures opened lower on Friday, pressured by weakness in rival soyoil prices on the Chicago and Dalian markets.

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, reinforcing a downside bias. However, the intraday low of 4,365 has formed a minor upward channel on the short-term timeframe, suggesting an upward bias. Resistance is seen at 4,425–4,430; a breakout above this level could drive prices higher. Conversely, failure to break above may lead to renewed selling pressure. Stay cautious of potential shifts in market sentiment. The immediate support and resistance levels are identified at 4403 and 4423, respectively. 

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.438795 4.472568
EUR 4.812854 4.816325
CNY 0.611771 0.612291
HKD 0.570562 0.574463
SGD 3.306949 3.329359