FCPO
FCPO 3rd Month Futures - 3 Apr 2025
Thu, 03-Apr-2025 08:38 am
by Dealing Team • Apex Futures

FCPO
Pivot
4515
Resistance
4540 / 4566 / 4587 / 4613
Support
4515 / 4487 / 4463 / 4440
Possible Range
4470 to 4570
Strategy
Long positions may be opened above 4566 with targets at 4587/4613 stop-loss at 4546
Short positions may be opened below 4566 with targets 4540/4515 stop-loss at 4586

FCPO Jun month rose 98 points or 2.22% to closed higher at 4517. Malaysian crude palm oil futures closed higher on Wednesday for the fourth consecutive session, driven by strength in Chicago soyoil and gains in the energy sector.

Overnight soybean oil for the May contract rose 1.06 to closed higher at 48.50. Dalian’s active palm oil contract rose 32 points to close higher at 9296 on previous night session.

The actively traded FCPO contract continues to trade within a sideways range on the daily timeframe, currently hovering above the key support zone of 4430–4435, which lies above the middle of the range, indicating underlying support for upside. On the hourly chart, the price remains within a downward channel and is now approaching the immediate resistance zone of 4535–4540. A higher opening is likely today, tracking positive movement in rival oil markets. The crucial resistance at 4565–4570 may be tested, where selling pressure could emerge. A breakout above this level could drive further upside, while failure to break through may lead to a potential technical correction. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4515 and 4540, respectively.

(News Source: Reuters)

Read more details in:

Disclaimer

The report is for internal and private circulation only and shall not be reproduced either in part or otherwise without the prior written consent of Apex Securities Berhad. The opinions and information contained herein are based on available data believed to be reliable. It is not to be construed as an offer, invitation or solicitation to buy or sell the securities covered by this report.

Opinions, estimates and projections in this report constitute the current judgment of the author. They do not necessarily reflect the opinion of Apex Securities Berhad and are subject to change without notice. Apex Securities Berhad has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

Apex Securities Berhad does not warrant the accuracy of anything stated herein in any manner whatsoever and no reliance upon such statement by anyone shall give rise to any claim whatsoever against Apex Securities Berhad. Apex Securities Berhad may from time to time have an interest in the company mentioned by this report. This report may not be reproduced, copied or circulated without the prior written approval of Apex Securities Berhad.

Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.425747 4.460392
EUR 4.895220 4.904713
CNY 0.606938 0.608107
HKD 0.568828 0.573311
SGD 3.311739 3.338136