FCPO
FCPO 3rd Month Futures - 25 Apr 2025
Fri, 25-Apr-2025 07:02 am
by Dealing Team • Apex Futures

FCPO
Pivot
4031
Resistance
4078 / 4098 / 4120 / 4143
Support
4057 / 4031 / 4007 / 3985
Possible Range
4040 to 4140
Strategy
Long positions may be opened above 4057 with targets 4078/4098 at stop-loss at 4037
Short positions may be opened below 4057 with targets at 4031/4007 stop-loss at 4077

FCPO Jul month contract dropped 1 point or 0.02% to close almost flat at 4036. Malaysian palm oil futures closed nearly flat on Thursday, as traders awaited fresh cues. Gains were capped by a stronger ringgit and increasing production, despite support from rival vegetable oils.

Overnight Soybean oil Jul month jumped 1.73 to close higher at 50.07. Dalian’s active palm oil contract rose 44 closed higher at 8324 on previous session. Dalian’s active palm oil contract rose 48 points to close higher at 8260 in yesterday’s night session.

The actively traded FCPO contract remains in a broader downtrend on the daily chart but is currently showing continued upward momentum driven by technical buying. On the hourly chart, the previous session saw prices trading within a narrow sideways range, with resistance around 4050–4055 and support near 4000–4005. Recently, the price has broken above this range and is now holding above the former resistance, which has turned into a new support zone at 4050–4055. We maintain a buy-on-retracement strategy, anticipating a potential move toward the next key resistance level at 4095–4100, or possibly higher. However, if the new support fails to hold, the price may fall back into the previous sideways trading range. Beware of any sentiment changes. The immediate support and resistance levels are pinpointed at 4057 and 4078, respectively.

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.095157 4.126734
EUR 4.808018 4.811741
CNY 0.582345 0.582796
HKD 0.526309 0.529879
SGD 3.164796 3.186440