FCPO
FCPO 3rd Month Futures (PM) - 9 May 2025
Fri, 09-May-2025 08:44 am
by Dealing Team • Apex Futures

FCPO
Pivot
3768
Resistance
3842 / 3867 / 3892 / 3919
Support
3814 / 3789 / 3768 / 3645
Possible Range
3800 to 3900
Strategy
Long positions may be opened above 3842 with targets at 3867/3892 stop-loss at 3822
Short positions may be opened below 3842 with targets at 3814/3789 stop-loss at 3862

FCPO Jul month rose 73 points or 1.96% to closed higher at 3801. Malaysian palm oil futures rebounded to close higher on Thursday, snapping a seven-session losing streak and recovering from their lowest level since September, driven by strong buying interest from key consumers, particularly India and China.

 

CBOT soybean oil Jul month jumped 1.12 to closed higher at 48.45. Dalian’s active palm oil contract rose 88 points to close higher at 7952 on previous night session

 

The actively traded FCPO contract continues to hover near the lower boundary of its downward channel, with support observed around the 3720–3725 zone, which helped lift prices higher. It is currently trading above a new range of 3810–3815. We anticipate further upward movement driven by technical buying, with immediate resistance seen at the 3840–3845 level. A breakout above this resistance could push prices toward 3865, potentially reaching as high as 3892. However, failure to breach the resistance zone may lead to renewed selling pressure. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 3814 and 3842, respectively.

 

(News Source: Reuters) 
 

(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