FCPO
FCPO 3rd Month Futures - 18 Apr 2025
Fri, 18-Apr-2025 08:32 am
by Dealing Team • Apex Futures

FCPO
Pivot
4031
Resistance
4057 / 4081 / 4104 / 4129
Support
4031 / 4008 / 3984 / 3958
Possible Range
4010 to 4110
Strategy
Long positions may be opened above 4031 with targets at 4057/4081 stop-loss at 4011
Short positions may be opened below 4031 with targets at 4008/3984 stop-loss at 4051

FCPO Jul month dropped 4 points or 0.10% to closed slightly lower at 4011. Malaysian crude palm oil futures declined for the fourth consecutive session on Thursday, closing at their lowest level since October 1, pressured by expectations of higher production. However, strength in rival vegetable oils helped cap further losses.

Overnight soybean oil for the Jul contract rose 0.34 to closed higher at 48.34. Dalian’s active palm oil contract rose 10 points to close slightly higher at 8164 in yesterday’s night session.

The actively traded FCPO contract on the daily chart continues to face resistance below the key 4110–4105 range, moving within a sideways consolidation. The top of the range is seen at 4060–4065, while the bottom is at 4000–4005, with the mid-range around 4025–4030. As long as prices stay above the mid-range, a buy-on-dip strategy remains valid, with potential upside toward the top of the range. A breakout above 4065 could signal further gains. However, if the price fails to hold above the mid-range, it may drift lower, with stronger support expected near the 4000–4005 level. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4031 and 4057, 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