FCPO
FCPO 3rd Month Futures (PM) - 8 May 2025
Thu, 08-May-2025 02:26 pm
by Dealing Team • Apex Futures

FCPO
Pivot
3723
Resistance
3745 / 3768 / 3790 / 3815
Support
3723 / 3707 / 3685 / 3660
Possible Range
3660 to 3760
Strategy
Long positions may be opened above 3723 with targets 3745/3768 at stop-loss at 3703
Short positions may be opened below 3723 with targets at 3707/3685 stop-loss at 3743

FCPO Jul month declined 1 point or 0.03% to closed almost flat at 3727 on midday session. Malaysian palm oil futures held steady near MYR 3,730 per tonne, following a seven-session losing streak that had driven prices to their lowest level in nearly eight months.

The actively traded FCPO contract continues to hover near the bottom of its downward channel, around the key support zone of 3720 to 3725. If this level holds, we may see some technical buying with potential upside toward the 3875 to 3880 range. However, if the support fails to hold, selling pressure could persist. Stay cautious of potential shifts in market sentiment. The immediate support and resistance levels are identified at 3723 and 3745, 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