FCPO
FCPO 3rd Month Futures (PM) - 22 Apr 2025
Tue, 22-Apr-2025 02:28 pm
by Dealing Team • Apex Futures

FCPO
Pivot
3907
Resistance
3929 / 3951 / 3976 / 4005
Support
3907 / 3882 / 3856 / 3830
Possible Range
3880 to 3980
Strategy
Long positions may be opened above 3929 with targets 3951/3976 at stop-loss at 3909
Short positions may be opened below 3929 with targets at 3907/3882 stop-loss at 3949

FCPO Jul month rose 8 points or 0.20% to closed higher at 3918 on midday session. Malaysian crude palm oil futures opened higher on Tuesday, poised to end a six-session losing streak, supported by gains in rival edible oils and firmer crude oil prices.

The actively traded FCPO contract continued its downward momentum, with prices still moving within a broad descending channel. We maintain a neutral view on the current price movement — while the broader trend remains bearish, today's opening saw a mild recovery from the recent lows.On the hourly chart, technical buying lifted prices to an intraday high near the 3940 level before a slight pullback. The price is likely to continue trading sideways or with a slight upward bias, with immediate resistance seen at 3930–3935. A break above this level could lead to further gains toward the upper boundary of the downward channel at 3970–3975. However, failure to breach the 3930–3935 resistance zone may signal a return to bearish momentum. Stay cautious of potential shifts in market sentiment. The immediate support and resistance levels are identified at 3907 and 3929, respectively. 

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.061877 4.094367
EUR 4.778623 4.788197
CNY 0.579532 0.580122
HKD 0.522115 0.526303
SGD 3.147144 3.172563