FCPO
FCPO 3rd Month Futures (PM) - 3 Apr 2025
Thu, 03-Apr-2025 02:27 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4480
Resistance
4480 / 4505 / 4528 / 4555
Support
4454 / 4433 / 4411 / 4392
Possible Range
4435 to 4535
Strategy
Long positions may be opened above 4480 with targets 4505/4528 at stop-loss at 4460
Short positions may be opened below 4480 with targets at 4454/4433 stop-loss at 4500

FCPO Jun month dropped 56 points or 1.24% to closed lower at 4461 on midday session. Malaysian crude palm oil futures declined on Thursday, poised to end a four-session winning streak, as weaker rival edible oils and a drop in crude oil prices pressured sentiment following U.S. President Donald Trump's tariff announcement on trading partners.

The actively traded FCPO contract remains within a broad sideways range on the daily timeframe and could maintain a positive bias if it stays above the crucial support at 4430–4435. On the hourly chart, the price is in a technical correction phase, moving lower toward 4447 before showing signs of recovery. Immediate resistance is seen at the 4480–4485 range; a breakout above this level could potentially push the price toward 4505–4510 to fill the gap. However, if it fails to break above 4480–4485, selling pressure may persist. Stay cautious of potential shifts in market sentiment. The immediate support and resistance levels are identified at 4454 and 4480, 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