FCPO
FCPO 3rd Month Futures - 16 Apr 2025
Wed, 16-Apr-2025 08:32 am
by Dealing Team • Apex Futures

FCPO
Pivot
4053
Resistance
4075 / 4096 / 4120 / 4148
Support
4053 / 4026 / 4000 / 3977
Possible Range
4010 to 4110
Strategy
Long positions may be opened above 4075 with targets at 4096/4120 stop-loss at 4055
Short positions may be opened below 4075 with targets at 4053/4026 stop-loss at 4095

FCPO Jul month dropped 64 points or 1.56% to closed lower at 4043. Malaysian palm oil futures declined for a second straight session on Tuesday, pressured by expectations of improved production and further weighed down by weaker performances in Dalian vegetable oils and Chicago soyoil markets.

Overnight soybean oil for the Jul contract rose 0.99 to closed higher at 47.84. Dalian’s active palm oil contract rose 20 points to close higher at 8148 in yesterday’s night session.

The actively traded FCPO contract has shifted to the July 2025 month starting today. On the daily chart, palm oil prices have broken below the lower boundary of a broad sideways consolidation between 4110 and 4105, which now serves as a key resistance zone. We maintain a bearish outlook and continue to favor a sell-on-rebound strategy. On the hourly chart, the price action is forming a downward channel. The recent session's low between 4030 and 4025 marks the support line of this channel. Some technical buying is expected toward the immediate resistance area at 4075 to 4080. A breakout above this zone could lead to a further push higher toward the 4105–4110 resistance range. However, failure to break above this level may trigger renewed selling pressure, potentially driving prices back down to retest the lower range. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4053 and 4075, 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