FCPO
FCPO 3rd Month Futures (PM) - 15 Apr 2025
Tue, 15-Apr-2025 02:28 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4115
Resistance
4115 / 4137 / 4158 / 4186
Support
4088 / 4060 / 4039 / 4017
Possible Range
4070 to 4170
Strategy
Long positions may be opened above 4115 with targets 4137/4158 at stop-loss at 4095
Short positions may be opened below 4115 with targets at 4088/4060 stop-loss at 4135

FCPO Jun month dropped 66 points or 1.58% to closed lower at 4104 on midday session. Malaysian palm oil futures declined for the second straight session on Tuesday, pressured by weak performances in Chicago soyoil and Dalian vegetable oil markets.

The actively traded FCPO contract on the daily chart has broken below another key support level at the 4110–4105 range, which marked the lower boundary of a broad consolidation phase. This zone now acts as a resistance area, signaling continued downward bias on the higher time frame. A “sell on rebound” approach remains the preferred strategy for the broader trend.

However, on the hourly chart, support has emerged around the 4080–4075 zone, which aligns with a previous low. After touching this support area, the price has shown signs of recovery. If the price breaks above the 4115–4110 resistance range, technical buying is likely to continue, potentially pushing prices toward the 4145–4150 zone. Failure to break above the 4115–4110 resistance could result in renewed selling pressure, with the downside bias expected to resume. Stay cautious of potential shifts in market sentiment. The immediate support and resistance levels are identified at 4088 and 4115, 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