FCPO
FCPO 3rd Month Futures - 30 Apr 2025
Wed, 30-Apr-2025 08:38 am
by Dealing Team • Apex Futures

FCPO
Pivot
3907
Resistance
3907 / 3934 / 3956 / 3981
Support
3881 / 3859 / 3834 / 3808
Possible Range
3850 to 3950
Strategy
Long positions may be opened above 3907 with targets at 3934/3956 stop-loss at 3907
Short positions may be opened below 3907 with targets at 3881/3859 stop-loss at 3927

FCPO Jul month dropped 22 points or 0.55% to closed lower at 3943. Malaysian palm oil futures edged down on Tuesday for the second straight session, pressured by declines in rival edible oils and crude oil prices.

CBOT soybean oil Jul month dropped 1.13 to closed lower at 49.33. Dalian’s active palm oil contract dropped 78 points to close lower at 8084 in previous night session.

The actively traded FCPO contract remains below the lower boundary of the previous sideways range at 4080–4085 on the daily chart. This zone now acts as a key resistance level for any potential recovery. Unless the price breaks above this resistance, the market is expected to stay in a downside-biased trading mode. On the hourly chart, we maintain a "sell on rebound" view. Resistance is spotted at the 3910–3905 zone. The price appears to be forming a downward channel, with the next target likely being the previous low at 3865–3860 — now a critical support level. A break below this support could trigger further downside toward the 3835 level or even the 3805 zone. However, if the 3865–3860 support holds, the price may be forming a double bottom pattern, suggesting a potential technical rebound — albeit with limited upside. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 3881 and 3907, respectively.

(News Source: NST)

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