FCPO
FCPO 3rd Month Futures (PM) - 4 Apr 2025
Fri, 04-Apr-2025 02:25 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4393
Resistance
4394 / 4421 / 4446 / 4468
Support
4356 / 4332 / 4305 / 4279
Possible Range
4340 to 4440
Strategy
Long positions may be opened above 4375 with targets 4394/4421 at stop-loss at 4355
Short positions may be opened below 4375 with targets at 4356/4332 stop-loss at 4395

FCPO Jun month dropped 126 points or 2.81% to closed lower at 4363 on midday session. Malaysian crude palm oil futures opened lower on Friday, pressured by weaker Chicago soyoil and crude oil prices, as U.S. President Donald Trump's reciprocal tariffs escalated the global trade war, raising concerns about inflation and economic slowdown.

The actively traded FCPO contract remains in a broad sideways range. In the previous night session, prices dropped sharply, breaking below the crucial 4435–4430 support, which now acts as key resistance. This signals a bearish outlook, favoring a sell-on-rebound strategy. On a smaller timeframe, prices are ranging between 4425–4420 (top) and 4360–4355 (bottom), currently testing the lower support for the third time. A breakdown could drive prices toward 4330–4325, while a rebound may attract buyers. Stay cautious of potential shifts in market sentiment. The immediate support and resistance levels are identified at 4356 and 4394, respectively. 

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.451181 4.487974
EUR 4.938764 4.946105
CNY 0.607808 0.608296
HKD 0.573694 0.577958
SGD 3.324704 3.349527