FCPO
FCPO 3rd Month Futures - 8 Apr 2025
Tue, 08-Apr-2025 08:40 am
by Dealing Team • Apex Futures

FCPO
Pivot
4213
Resistance
4238 / 4263 / 4290 / 4312
Support
4213 / 4186 / 4130 / 4130
Possible Range
4140 to 4240
Strategy
Long positions may be opened above 4238 with targets at 4263/4290 stop-loss at 4218
Short positions may be opened below 4238 with targets 4213/4186 stop-loss at 4258

FCPO Jun month dropped 143 points or 3.3% to closed lower at 4185. Malaysian crude palm oil futures dropped to a 10-week low on Monday, weighed down by weaker soyoil and crude oil prices, amid concerns over a global trade war following China's retaliatory tariffs on U.S. goods.

Overnight soybean oil for the May contract declined 0.69 to closed lower at 45.15. Dalian’s active palm oil contract fell 38 points to close at 8,762 in yesterday’s night session. In the previous main session, it had declined over 450 points after reopening from the holiday.

The actively traded FCPO contract remains within a broad sideways consolidation on the daily chart, currently remain trading at the bottom part of the range. We maintain our sell-on-rebound strategy as the primary approach. On a smaller timeframe, the price touched the 4170–4165 support line of the downward channel and saw some recovery. Resistance is observed at 4240–4235—if the price holds above this range, there may be buying opportunities with limited upside. However, if support fails, selling pressure could resume, pushing the price back toward 4170–4165. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4213 and 4238, 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