FCPO
FCPO 3rd Month Futures - 11 Apr 2025
Fri, 11-Apr-2025 08:33 am
by Dealing Team • Apex Futures

FCPO
Pivot
4185
Resistance
4232 / 4258 / 4281 / 4302
Support
4208 / 4185 / 4162 / 4130
Possible Range
4170 to 4270
Strategy
Long positions may be opened above 4232 with targets at 4258/4281 stop-loss at 4212
Short positions may be opened below 4232 with targets at 4208/4185 stop-loss at 4252

FCPO Jun month rose 52 points or 1.25% to closed higher at 4200. Malaysian crude palm oil futures surged on Thursday, recovering from the previous session's losses, driven by gains in rival oils on the Dalian market and supported by Malaysian Palm Oil Board (MPOB) data indicating a rise in March inventories.

Overnight soybean oil for the May contract rose 0.13 to closed slightly higher at 46.32. Dalian’s active palm oil contract rose 78 points to close higher at 8190 in yesterday’s night session.

The actively traded FCPO contract continued its recovery after finding support above the lower boundary of a broad sideways range at 4110–4105 on the larger timeframe. It remains trading within this range, staying below the key resistance zone at 4270–4275. On a smaller timeframe, support has been established at 4180–4185. As long as the price holds above this level, the buy plan remains valid. The nearest resistance is spotted at 4225–4230, and a breakout above this level could push the price toward the crucial resistance range. However, failure to break above may lead to sideways trading, with support at 4155–4160. 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