FCPO
FCPO 3rd Month Futures - 28 Apr 2025
Mon, 28-Apr-2025 08:50 am
by Dealing Team • Apex Futures

FCPO
Pivot
4080
Resistance
4080 / 4103 / 4127 / 4154
Support
4055 / 4031 / 4009 / 3985
Possible Range
4000 to 4100
Strategy
Long positions may be opened above 4055 with targets at 4080/4103 stop-loss at 4035
Short positions may be opened below 4055 with targets at 4031/4009 stop-loss at 4075

FCPO Jul month rose 21 points or 0.52% to closed higher at 4057. Malaysian palm oil futures climbed on Friday, breaking a three-week losing streak, supported by stronger performance in rival edible oils.

CBOT soybean oil Jul month declined 0.26 to closed lower at 49.81. Dalian’s active palm oil contract dropped 44 points to close lower at 8310 in previous night session.

The actively traded FCPO contract remains in a broader downtrend on the daily chart but is currently showing sustained upward momentum driven by technical buying. On the hourly chart, the price attempted to break above the resistance zone at 4080–4085 but pulled back below this level, which marks the lower boundary of the previous sideways consolidation. For today, the market is expected to trade within a consolidation mode. Crucial support is seen at the 4010–4015 range — if this support holds, it may offer buying opportunities with potential to retest the 4075–4080 zone. However, if the support fails, further downside movement could unfold. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4055 and 4080, 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 4.061877 4.094367
EUR 4.778623 4.788197
CNY 0.579532 0.580122
HKD 0.522115 0.526303
SGD 3.147144 3.172563