FCPO
FCPO 3rd Month Futures - 25 Mar 2025
Tue, 25-Mar-2025 08:34 am
by Dealing Team • Apex Futures

FCPO
Pivot
4323
Resistance
4348 / 4372 / 4394 / 4420
Support
4323 / 4295 / 4268 / 4249
Possible Range
4290 to 4390
Strategy
Long positions may be opened above 4372 with targets at 4394/4420 stop-loss at 4352
Short positions may be opened below 4372 with targets 4348/4323 stop-loss at 4392

FCPO Jun month dropped 70 points or 1.60% to closed lower at 4305 on midday session. Malaysian crude palm oil futures fell for the second straight session on Monday, reaching their lowest closing levels in nearly two months, weighed down by weakness in rival vegetable oils, while a weaker currency helped curb losses.

Overnight soybean oil for the May contract rose 0.14 to closed higher at 42.15. Dalian’s active palm oil contract rose 30 points to close higher at 928 on previous night session.

The actively traded FCPO contract on the daily timeframe continues to move within a broad sideways range. The price recently tested a key support zone between 4,295 and 4,300 before rebounding, which now serves as a crucial support level. From a broader perspective, holding above this range could potentially drive the price back into an upward trend, while a breakdown may lead to further downside. On the hourly timeframe, some technical buying opportunities are emerging, with resistance around 4,365 to 4,370, which remains a key selling zone for downside continuation. If the price breaks above this level, further buying momentum is likely. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4323 and 4348, 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