FCPO
FCPO 3rd Month Futures - 26 Mar 2025
Wed, 26-Mar-2025 08:32 am
by Dealing Team • Apex Futures

FCPO
Pivot
4278
Resistance
4278 / 4301 / 4326 / 4350
Support
4252 / 4230 / 4206 / 4181
Possible Range
4200 to 4300
Strategy
Long positions may be opened above 4278 with targets at 4301/4326 stop-loss at 4258
Short positions may be opened below 4278 with targets 4252/4230 stop-loss at 4298

FCPO Jun month dropped 60 points or 1.39% to closed lower at 4245 on midday session. Malaysian crude palm oil futures fell for the third consecutive session on Tuesday, reaching their lowest close in nearly two months, pressured by declining prices of rival vegetable oils in the Dalian and Chicago markets, along with weak export data.

Overnight soybean oil for the May contract rose 0.15 to closed higher at 42.30. Dalian’s active palm oil contract dropped 90 points to close lower at 8836 on previous night session.

The actively traded FCPO contract in daily time frame remains within a broad sideways range and has recently broken below the key support zone at 4,295–4,300, indicating continued bearish momentum. This zone now acts as a crucial resistance level. On the hourly timeframe, the price is consolidating within a narrow range, with resistance seen at 4,275–4,280 and support at 4,230–4,235. A breakout above the resistance zone could trigger further technical buying toward the 4,300–4,325 range. However, the main strategy remains to sell on rebounds. Failure to break above resistance may present a selling opportunity, potentially driving prices back to the lower range and beyond. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4252 and 4278, respectively.

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.419906 4.456520
EUR 4.797177 4.803905
CNY 0.610675 0.611563
HKD 0.568427 0.572673
SGD 3.294013 3.318606