FCPO
FCPO 3rd Month Futures - 27 Mar 2025
Thu, 27-Mar-2025 08:28 am
by Dealing Team • Apex Futures

FCPO
Pivot
4259
Resistance
4285 / 4310 / 4332 / 4355
Support
4259 / 4237 / 4214 / 4191
Possible Range
4250 to 4350
Strategy
Long positions may be opened above 4271 with targets at 4285/4310 stop-loss at 4251
Short positions may be opened below 4271 with targets 4259/4237 stop-loss at 4291

FCPO Jun month rose 14 points or 0.33% to closed higher at 4259 on midday session. Malaysian crude palm oil futures rose on Wednesday after three straight sessions of losses, supported by bargain hunting following a nearly two-month low.

Overnight soybean oil for the May contract rose 0.34 to closed higher at 42.64. Dalian’s active palm oil contract rose 32 points to close higher at 8870 on previous night session.

The actively traded FCPO contract on the daily timeframe remains within a broad sideways range but has recently broken below the key support zone at 4,295–4,300, which now serves as a crucial resistance level. On the smaller, hourly timeframe, price consolidation is occurring within a narrow sideways range, with resistance seen at 4,275–4,280. After multiple attempts, the price appears supported above the mid-range zone of 4,250–4,255, potentially setting the stage for an upward move, provided resistance holds firm. If this scenario plays out, the price could trend toward 4,310–4,315. However, a breakdown below the mid-range level may trigger selling pressure. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4259 and 4285, respectively.

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.420886 4.455517
EUR 4.777422 4.786296
CNY 0.609704 0.610870
HKD 0.568233 0.572913
SGD 3.295156 3.321155