FCPO
FCPO 3rd Month Futures - 15 Apr 2025
Tue, 15-Apr-2025 08:31 am
by Dealing Team • Apex Futures

FCPO
Pivot
4170
Resistance
4143 / 4170 / 4196 / 4221
Support
4116 / 4089 / 4062 / 4037
Possible Range
4080 to 4180
Strategy
Long positions may be opened above 4143 with targets at 4170/4196 stop-loss at 4123
Short positions may be opened below 4143 with targets at 4116/4089 stop-loss at 4163

FCPO Jun month dropped 42 points or 1% to closed lower at 4170. Malaysian crude palm oil futures ended lower on Monday, pressured by weakness in rival soyoil on the Chicago market and dampened sentiment due to escalating U.S.-China trade tensions, despite a temporary suspension of tariffs on other nations.

Overnight soybean oil for the May contract dropped 1.03 to closed lower at 46.32. Dalian’s active palm oil contract dropped 34 points to close lower at 8154 in yesterday’s night session.

The actively traded FCPO contract on the daily chart has broken below the support line of the downward channel in the 4165–4170 range and continues to trade lower. This level also represents the lower boundary of a sideways consolidation zone seen on the hourly chart, which now acts as a key resistance area. We anticipate a “sell on rebound” strategy for the next move. Immediate resistance is now seen at 4145–4140. A break above this range may trigger a limited upside toward 4170–4165. Conversely, a break below could lead to further downside potential toward 4115–4110, or even lower. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4116 and 4143, 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