FCPO
FCPO 3rd Month Futures - 2 Apr 2025
Wed, 02-Apr-2025 08:54 am
by Dealing Team • Apex Futures

FCPO
Pivot
4398
Resistance
4427 / 4456 / 4481 / 4509
Support
4398 / 4371 / 4347 / 4325
Possible Range
4410 to 4510
Strategy
Long positions may be opened above 4456 with targets at 4481/4509 stop-loss at 4436
Short positions may be opened below 4456 with targets 4427/4398 stop-loss at 4476

FCPO Jun month jumped 107 points or 2.48% to closed higher at 4419. Malaysian palm oil futures extended their gains for the third consecutive session on Friday, driven by strong demand ahead of the Islamic holiday of Eid al-Fitr and firm performance in competing vegetable oils.

Overnight soybean oil for the May contract rose 2.55 to closed higher at 47.44. Dalian’s active palm oil contract rose 154 points to close higher at 9272 on previous night session.

The actively traded FCPO contract on the daily timeframe continues to move within a broad sideways range, currently hovering near the key resistance zone of 4430–4435. A potential gap-up is expected at the opening session, tracking the stronger closing in rival edible oil markets. The immediate resistance is seen at 4455–4460, with a breakout above this level potentially extending gains toward 4480–4485, and possibly reaching the 4500 range. If the 4430–4435 resistance zone is breached, it may turn into a support range, making buying on retracement the primary strategy. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4398 and 4427, respectively.

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.390206 4.425718
EUR 5.008717 5.015095
CNY 0.603029 0.603828
HKD 0.565660 0.569770
SGD 3.345779 3.370205