FCPO
FCPO 3rd Month Futures - 21 Apr 2025
Mon, 21-Apr-2025 08:40 am
by Dealing Team • Apex Futures

FCPO
Pivot
4000
Resistance
4000 / 4024 / 4048 / 4071
Support
3972 / 3948 / 3923 / 3900
Possible Range
3920 to 4020
Strategy
Long positions may be opened above 3975 with targets at 4000/4024 stop-loss at 3955
Short positions may be opened below 3975 with targets at 3948/3923 stop-loss at 3995

FCPO Jul month dropped 36 points or 0.9% to closed lower at 3975. Malaysian crude palm oil futures gave up earlier gains on Friday, tracking declines in rival oils on the Dalian exchange, and recorded a third consecutive weekly loss — marking their steepest drop in 28 weeks.

CBOT soybean oil was closed last Friday in observance of Good Friday. The market will resume and respond today. Dalian’s active palm oil contract dropped 10 points to close lower at 8154 in yesterday’s night session.

The actively traded FCPO contract faced further selling pressure during last Friday’s session, with prices breaking below the broader consolidation range on the daily chart. This suggests a higher likelihood of continued bearish momentum. On the lower time frame, the price had previously consolidated within a narrow sideways range, with resistance at 4080–4075 and support at 4005–4000. This former support zone has now turned into a crucial resistance area. Any rebound toward this zone could trigger renewed selling pressure. However, if the 4000–4005 level is broken convincingly to the upside, we may see a recovery toward the 4020–4025 range, with the potential for prices to retest the top of the smaller sideways channel. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 3972 and 4000, respectively.

(News Source: Reuters)

Read more details in:

Disclaimer

The report is for internal and private circulation only and shall not be reproduced either in part or otherwise without the prior written consent of Apex Securities Berhad. The opinions and information contained herein are based on available data believed to be reliable. It is not to be construed as an offer, invitation or solicitation to buy or sell the securities covered by this report.

Opinions, estimates and projections in this report constitute the current judgment of the author. They do not necessarily reflect the opinion of Apex Securities Berhad and are subject to change without notice. Apex Securities Berhad has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

Apex Securities Berhad does not warrant the accuracy of anything stated herein in any manner whatsoever and no reliance upon such statement by anyone shall give rise to any claim whatsoever against Apex Securities Berhad. Apex Securities Berhad may from time to time have an interest in the company mentioned by this report. This report may not be reproduced, copied or circulated without the prior written approval of Apex Securities Berhad.

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