FCPO
FCPO 3rd Month Futures - 9 Apr 2025
Wed, 09-Apr-2025 08:50 am
by Dealing Team • Apex Futures

FCPO
Pivot
4213
Resistance
4213 / 4240 / 4264 / 4288
Support
4186 / 4164 / 4140 / 4114
Possible Range
4140 to 4240
Strategy
Long positions may be opened above 4186 with targets at 4213/4240 stop-loss at 4166
Short positions may be opened below 4186 with targets 4164/4140 stop-loss at 4206

FCPO Jun month rose 3 points or 0.07% to closed almost flat at 4188. Malaysian crude palm oil futures edged up on Tuesday, ending a three-day losing streak, tracking gains in crude oil and Chicago soyoil. However, concerns over high Malaysian palm oil inventories limited the upside.

Overnight soybean oil for the May contract declined 0.21 to closed lower at 44.94. Dalian’s active palm oil contract fell 38 points to close at 8,716 in yesterday’s night session.

The actively traded FCPO contract ended the previous session nearly unchanged, continuing its broad sideways consolidation on the daily chart, now trading near the lower range. We maintain a sell-on-rebound strategy as our primary approach. On a smaller timeframe, the price remains in a narrow range, with resistance at 4215–4220. A breakout above may offer limited upside potential, while a break below support could trigger further selling, pushing prices toward 4170–4165. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4186 and 4213, 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