FCPO
FCPO 3rd Month Futures - 24 Mar 2025
Mon, 24-Mar-2025 08:38 am
by Dealing Team • Apex Futures

FCPO
Pivot
4389
Resistance
4389 / 4413 / 4436 / 4462
Support
4365 / 4344 / 4318 / 4295
Possible Range
4330 to 4430
Strategy
Long positions may be opened above 4365 with targets at 4389/4413 stop-loss at 4345
Short positions may be opened below 4365 with targets at 4344/4318 stop-loss at 4385

FCPO Jun month dropped 38 points or 0.86% to closed lower at 4375 on midday session. Malaysia crude palm oil ended lower on Friday, marking its second consecutive weekly decline, pressured by weakness in Chicago soyoil futures and sluggish Malaysian palm oil exports.

Overnight soybean oil for the May contract dropped 0.70 to closed lower at 42.01. Dalian’s active palm oil contract dropped 68 points to close lower at 9020 on previous night session.

The actively traded FCPO contract continues to consolidate within a wide range on the daily chart, remaining below the key resistance zone of 4,430–4,425, which reinforces a downside bias. On the hourly timeframe, the price is hovering near the support line of a minor upward channel at 4,370–4,375. A break below this support could trigger further selling pressure toward 4,340–4,345. However, if the price remains supported above 4,370–4,375, buying opportunities may emerge with limited upside potential, with highs possibly reaching the 4,410–4,415 range. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4365 and 4389, 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