FCPO
FCPO 3rd Month Futures - 7 May 2025
Wed, 07-May-2025 08:43 am
by Dealing Team • Apex Futures

FCPO
Pivot
3802
Resistance
3762 / 3783 / 3802 / 3829
Support
3746 / 3719 / 3697 / 3671
Possible Range
3700 to 3800
Strategy
Long positions may be opened above 3762 with targets at 3783/3802 stop-loss at 3742
Short positions may be opened below 3762 with targets at 3746/3719 stop-loss at 3782

FCPO Jul month dropped 35 points or 0.91% to closed lower at 3792. Malaysian palm oil futures gave up earlier gains on Tuesday, marking a sixth consecutive session of losses, pressured by weakness in rival oils on the Dalian and Chicago markets. Meanwhile, market attention has turned to May’s production outlook.

CBOT soybean oil Jul month dropped 0.38 to closed lower at 48.35. Dalian’s active palm oil contract dropped 72 points to close lower at 7912 on previous night session 

The actively traded FCPO contract continues to trade within a broader downward channel after breaking below the 4080–4085 region, maintaining a bearish outlook. On the hourly chart, prices have extended their decline and are now facing resistance around the 3760–3765 zone. Any rebound toward this level may present a selling opportunity. However, a breakout above this resistance could trigger limited technical buying, with upside potential capped near the 3800–3805 range. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 3746 and 3762, 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