FCPO
FCPO 3rd Month Futures - 4 Apr 2025
Fri, 04-Apr-2025 08:26 am
by Dealing Team • Apex Futures

FCPO
Pivot
4404
Resistance
4404 / 4431 / 4456 / 4483
Support
4376 / 4351 / 4328 / 4301
Possible Range
4330 to 4430
Strategy
Long positions may be opened above 4376 with targets at 4404/4431 stop-loss at 4356
Short positions may be opened below 4376 with targets at 4351/4328 stop-loss at 4396

FCPO Jun month dropped 28 points or 0.62% to closed lower at 4489. Malaysian palm oil futures declined on Thursday, ending a four-session rally, as profit-taking pressure set in after U.S. President Donald Trump announced reciprocal tariffs on trade partners.

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 remains within a broad sideways range. In the previous night session, prices dropped sharply, breaking below the crucial support at 4435–4430, which now acts as key resistance. This move suggests a continued bearish outlook, with a sell-on-rebound strategy favored. Currently, prices are trading within a downward channel, with immediate support at 4475–4480. A failure to hold this level could lead to further downside toward 4350–4355, with the lowest target around 4330–4325. However, if support at 4475–4480 holds, a limited recovery may be seen. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4376 and 4404, respectively.

(News Source: Reuters)

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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