FCPO
FCPO 3rd Month Futures - 8 May 2025
Thu, 08-May-2025 08:43 am
by Dealing Team • Apex Futures

FCPO
Pivot
3747
Resistance
3722 / 3747 / 3771 / 3795
Support
3698 / 3670 / 3642 / 3620
Possible Range
3660 to 3760
Strategy
Long positions may be opened above 3722 with targets at 3747/3771 stop-loss at 3702
Short positions may be opened below 3722 with targets at 3698/3670 stop-loss at 3742

FCPO Jul month dropped 64 points or 1.69% to closed lower at 3728. Malaysian palm oil futures fell for the seventh consecutive session on Wednesday, weighed down by concerns over rising production and subdued demand from key consumer countries.

CBOT soybean oil Jul month dropped 1.02 to closed lower at 47.33. Dalian’s active palm oil contract dropped 62 points to close lower at 7862 on previous night session 

The actively traded FCPO contract continues to trend lower, having broken below the 3800–3795 support zone, which now acts as a key resistance level. This confirms a bearish outlook overall. On the hourly chart, the price had been consolidating sideways within a narrow range between 3840–3845 at the top and 3770–3775 at the bottom. With the recent break below this range, we maintain our sell-on-rebound strategy. Any rebound toward the 3770–3775 area could present a selling opportunity. However, if the price breaks back above this range, we may see limited technical buying, potentially heading toward the 3840–3845 region once again. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 3698 and 3670, 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