FCPO
FCPO 3rd Month Futures (PM) - 23 Apr 2025
Wed, 23-Apr-2025 02:16 pm
by Dealing Team • Apex Futures

FCPO
Pivot
3882
Resistance
4005 / 4029 / 4053 / 4080
Support
3982 / 3958 / 3934 / 3911
Possible Range
3930 to 4030
Strategy
Long positions may be opened above 3982 with targets 4005/4029 at stop-loss at 3960
Short positions may be opened below 3982 with targets at 3958/3934 stop-loss at 4002

FCPO Jul month rose 39 points or 0.98% to closed higher at 4005 on midday session. Malaysian crude palm oil futures started lower on Wednesday, pressured by a weaker ringgit, though stronger crude oil prices helped to cap the downside.

The actively traded FCPO contract remains in a broader downward trend on the daily chart. However, on the hourly chart, prices have broken above the resistance line of a small descending channel at the 3960–3965 range and continued to move higher. A new support level is spotted at 3980–3985. Any pullback may offer a buying opportunity in the upcoming sessions, with potential upside toward 4020–4025. If the support fails to hold, selling pressure may return. Stay cautious of potential shifts in market sentiment. The immediate support and resistance levels are identified at 3982 and 4005, 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