FCPO
FCPO 3rd Month Futures - 22 Apr 2025
Tue, 22-Apr-2025 08:45 am
by Dealing Team • Apex Futures

FCPO
Pivot
3927
Resistance
3881 / 3904 / 3927 / 3956
Support
3866 / 3842 / 3816 / 3790
Possible Range
3800 to 3920
Strategy
Long positions may be opened above 3881 with targets at 3904/3927 stop-loss at 3861
Short positions may be opened below 3881 with targets at 3866/3842 stop-loss at 3901

FCPO Jul month dropped 65 points or 1.64% to closed lower at 3910. Malaysian palm oil futures declined for the sixth consecutive session on Monday, pressured by weakness in soyoil and crude oil, a stronger ringgit, and ongoing concerns over U.S. tariffs.

CBOT soybean oil declined 0.03 to closed slightly lower at 48.31. Dalian’s active palm oil contract dropped 96 points to close lower at 7980 in yesterday’s night session.

The actively traded FCPO contract continued its downward momentum, with prices remaining within a broad descending channel. We maintain a sell-on-rebound strategy, as the overall bias remains bearish with potential for further downside. On the hourly chart, a minor downward channel is also visible, with prices recently touching the support zone at 3860–3865. We may see some sideways consolidation within the range of 3905–3910 (top) and 3860–3865 (bottom). A breakout on either side could set the direction for the next move. However, if the price breaks to the upside, the room for further gains appears limited. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 3866 and 3881, 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