FCPO
FCPO 3rd Month Futures (PM) - 8 Apr 2025
Tue, 08-Apr-2025 02:26 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4239
Resistance
4239 / 4263 / 4290 / 4312
Support
4213 / 4186 / 4162 / 4130
Possible Range
4140 to 4240
Strategy
Long positions may be opened above 4239 with targets 4263/4290 at stop-loss at 4219
Short positions may be opened below 4239 with targets at 4213/4186 stop-loss at 4259

FCPO Jun month rose 48 points or 1.15% to closed higher at 4233 on midday session. Malaysian crude palm oil futures rose on Tuesday, ending a three-day losing streak, supported by gains in crude oil and Chicago soyoil, while a weaker ringgit provided additional support.

The actively traded FCPO contract continues to consolidate within a broad sideways range on the daily chart, currently trading near the lower end. We maintain a sell-on-rebound strategy as our primary approach. On a smaller timeframe, the price is moving within a narrow range in the morning session. Resistance is seen at 4240–4235—a breakout above this level may present limited upside buying opportunities. However, if support fails, selling pressure could intensify, potentially driving the price back toward 4170–4165. Stay cautious of potential shifts in market sentiment. The immediate support and resistance levels are identified at 4213 and 4239, 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