FCPO
FCPO 3rd Month Futures - 13 May 2025
Tue, 13-May-2025 08:57 am
by Dealing Team • Apex Futures

FCPO
Pivot
3805
Resistance
3835 / 3866 / 3891 / 3917
Support
3805 / 3779 / 3753 / 3724
Possible Range
3790 to 3890
Strategy
Long positions may be opened above 3835 with targets at 3866/3891 stop-loss at 3815
Short positions may be opened below 3835 with targets at 3805/3779 stop-loss at 3855

FCPO Jul month rose 13 points or 0.34% to closed higher at 3814. Malaysian palm oil futures ended higher on Friday, reversing earlier losses, but still booked a second consecutive weekly decline, as forecasts of rising production and inventory limited the gains.

CBOT soybean oil Jul month jumped 1.35 to closed higher at 49.92 on Monday. Dalian’s active palm oil contract rose 66 points to close higher at 8022 on previous night session 

The actively traded FCPO contract continues to move within a broad downward channel. Last week, prices tested the support zone between 3725 and 3730 before rebounding with a technical buying interest, marking two consecutive sessions of gains. 

On the hourly chart, the price has established two support levels and appears to be forming an upward channel, suggesting potential for further upside. The primary strategy for the upcoming sessions is to buy on retracement. Immediate resistance is seen in the 3830–3835 range. A successful breakout above this zone may push prices towards 3866, with the next target at 3890—potential resistance at the upper boundary of the developing upward channel. However, failure to break this immediate resistance could trigger renewed selling pressure. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 3805 and 3835, 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