FCPO
FCPO 3rd Month Futures (PM) - 21 Apr 2025
Mon, 21-Apr-2025 02:34 pm
by Dealing Team • Apex Futures

FCPO
Pivot
3942
Resistance
3942 / 3971 / 3998 / 4026
Support
3924 / 3902 / 3876 / 3852
Possible Range
3880 to 3980
Strategy
Long positions may be opened above 3942 with targets 3971/3998 at stop-loss at 3922
Short positions may be opened below 3942 with targets at 3924/3902 stop-loss at 3962

FCPO Jul month dropped 46 points or 1.16% to closed lower at 3929 on midday session. Malaysian crude palm oil futures opened lower on Monday for the sixth consecutive session, weighed down by weaker rival edible oils and crude oil prices, while traders also awaited cargo surveyors' export estimates.

The actively traded FCPO contract faced further selling pressure in the first session today, breaking below another support level in the 3945–3950 range. Prices are currently hovering within the first session's range. The broader outlook continues to suggest a higher likelihood of sustained bearish momentum.

A minor downward channel is also forming, with the price moving within its range. The support line is observed at 3900–3905. A break below this level could lead to further downside, while holding above may trigger some technical buying with limited upside.  Stay cautious of potential shifts in market sentiment. The immediate support and resistance levels are identified at 3924 and 3942, respectively. 

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.311214 4.345297
EUR 4.922611 4.927589
CNY 0.594711 0.595394
HKD 0.555953 0.559839
SGD 3.293502 3.316793