FCPO
FCPO 3rd Month Futures (PM) - 24 Mar 2025
Mon, 24-Mar-2025 01:12 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4349
Resistance
4349 / 4372 / 4393 / 4420
Support
4327 / 4301 / 4278 / 4255
Possible Range
4310 to 4410
Strategy
Long positions may be opened above 4349 with targets 4372/4393 at stop-loss at 4329
Short positions may be opened below 4349 with targets at 4327/4301 stop-loss at 4369

FCPO Jun month dropped 35 points or 0.80% to closed lower at 4340 on midday session. Malaysian palm oil futures fell for the second straight session on Monday, weighed down by weakness in vegetable oil contracts on the Dalian Commodity Exchange.

The actively traded FCPO contract broke below the 4,370–4,375 support line of the minor upward channel on the hourly chart, reinforcing a downward bias with a primary strategy of selling on resistance. The new resistance at 4,350–4,345 serves as a potential selling area for another round of down, while support at 4,325–4,320 is critical—breaking below this level could drive prices lower toward 4,300–4,295. However, if 4,325–4,320 holds, the market may consolidate within a sideways range. Stay cautious of potential shifts in market sentiment. The immediate support and resistance levels are identified at 4327 and 4349, 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