FCPO
FCPO 3rd Month Futures - 10 Apr 2025
Thu, 10-Apr-2025 08:34 am
by Dealing Team • Apex Futures

FCPO
Pivot
4159
Resistance
4159 / 4183 / 4207 / 4232
Support
4131 / 4108 / 4085 / 4061
Possible Range
4110 to 4220
Strategy
Long positions may be opened above 4159 with targets at 4183/4207 stop-loss at 4139
Short positions may be opened below 4159 with targets 4131/4108 stop-loss at 4179

FCPO Jun month dropped 40 points or 0.96% to closed lower at 4148. Malaysian crude palm oil futures ended lower on Wednesday, reversing the previous session's gains due to pressure from weaker rival edible oils in the Dalian and Chicago markets, along with growing economic concerns over tariff wars.

Overnight soybean oil for the May contract jumped 1.25 to closed higher at 46.19. Dalian’s active palm oil contract fell 70 points to close lower at 8,566 in yesterday’s night session.

The actively traded FCPO contract in yesterday's session dipped below the 4100–4105 support level on the daily chart before recovering. This range remains a key support zone for the uptrend that has been forming since mid-August 2024 from a broader perspective. In the short term, this support range represents the lower boundary of a sideways consolidation, suggesting that the price is currently at a critical support level, with buying as the primary strategy for the next move. Immediate resistance is seen at 4155–4160. A breakout above this level could potentially drive prices higher toward the 4200–4205 range. However, failure to break above could result in continued consolidation in narrow range within the 4185–4180 range while maintaining support above 4105–4110. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4131 and 4159, 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