FCPO
FCPO 3rd Month Futures - 5 May 2025
Mon, 05-May-2025 08:47 am
by Dealing Team • Apex Futures

FCPO
Pivot
3893
Resistance
3893 / 3916 / 3943 / 3968
Support
3865 / 3841 / 3815 / 3791
Possible Range
3800 to 3900
Strategy
Long positions may be opened above 3893 with targets at 3916/3943 stop-loss at 3873
Short positions may be opened below 3893 with targets at 3865/3841 stop-loss at 3913

FCPO Jul month dropped 30 points or 0.77% to closed lower at 3881. Malaysian palm oil futures gave up earlier gains on Friday, pressured by a stronger ringgit and sluggish demand from major markets, ending the week with a loss.

CBOT soybean oil Jul month dropped 0.27 to closed lower at 49.43. Dalian market remains closed from May 1–5 for the 2025 Labor Day holiday and will reopen on May 6.

The actively traded FCPO contract continues to trade below the 4080–4085 zone, previously the bottom of a sideways consolidation range. A new downward channel has formed below this level, and we maintain a sell-on-rebound strategy. If the price rebounds toward the 3920–3915 area and faces resistance, renewed selling pressure is expected. Immediate support is seen at 3865–3860; a break below this level could open the path toward further downside, potentially reaching the 3800–3795 range. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 3865 and 3893, 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