FCPO
FCPO 3rd Month Futures - 7 Apr 2025
Mon, 07-Apr-2025 08:40 am
by Dealing Team • Apex Futures

FCPO
Pivot
4370
Resistance
4348 / 4370 / 4397 / 4421
Support
4324 / 4297 / 4273 / 4246
Possible Range
4270 to 4370
Strategy
Long positions may be opened above 4324 with targets at 4348/4370 stop-loss at 4304
Short positions may be opened below 4324 with targets 4297/4273 stop-loss at 4344

FCPO Jun month slumped 161 points or 3.59% to closed lower at 4328. Malaysian crude palm oil futures fell on Friday, weighed down by weaker Chicago soyoil and crude oil prices, as reciprocal tariffs imposed by U.S. President Donald Trump heightened uncertainty in global trade.

Overnight soybean oil for the May contract dipped 1.22 to closed lower at 45.84. Dalian market was closed on April 4, 2025, for the Qing Ming Festival and will reopen today.

The actively traded FCPO contract remains within a broad sideways range and continues to exhibit a downside bias after the crucial support at 4435–4430 failed to hold, making "sell on rebound" the main strategy. On a smaller timeframe, prices are currently trading within the 4425–4420 support range, which aligns with the retracement support of the uptrend line established since March 25. If this range fails to hold, we could see further declines toward 4270–4275, which might mark the lowest point. However, if 4425–4420 holds, there could be a buying opportunity, though with limited upside potential. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4324 and 4348, respectively.

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 3.949404 3.981238
EUR 4.633763 4.638745
CNY 0.579561 0.580180
HKD 0.504449 0.508017
SGD 3.094283 3.116286