FCPO
FCPO 3rd Month Futures (PM) - 17 Apr 2025
Thu, 17-Apr-2025 02:25 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4054
Resistance
4080 / 4104 / 4129 / 4156
Support
4054 / 4033 / 4010 / 3988
Possible Range
4030 to 4130
Strategy
Long positions may be opened above 4080 with targets 4104/4129 at stop-loss at 4060
Short positions may be opened below 4080 with targets at 4054/4033 stop-loss at 4100

FCPO Jul month rose 56 points or 1.39% to closed higher at 4071 on midday session. Malaysian crude palm oil futures rebounded on Thursday after posting their lowest close since October 1 in the previous session, supported by gains in rival vegetable oils and a weaker ringgit.

The actively traded FCPO contract on the daily chart remains in a downside trend after breaking below the 4100–4105 support, which now acts as a key resistance zone. On the shorter time frame, a double bottom has formed around the 4000–4005 area, with upward momentum building. New support is identified at 4060–4055, the upper boundary of a minor sideways consolidation. Short-term buying on retracement remains intact. A break above the immediate resistance at 4080–4085 could open the path toward 4130–4125. However, failure to break this resistance may trigger renewed selling pressure. Stay cautious of potential shifts in market sentiment. The immediate support and resistance levels are identified at 4054 and 4080, 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