FCPO
FCPO 3rd Month Futures (PM) - 13 May 2025
Tue, 13-May-2025 02:44 pm
by Dealing Team • Apex Futures

FCPO
Pivot
3900
Resistance
3915 / 3937 / 3963 / 3990
Support
3890 / 3866 / 3844 / 3819
Possible Range
3810 to 3910
Strategy
Long positions may be opened above 3866 with targets 3890/3915 at stop-loss at 3844
Short positions may be opened below 3866 with targets at 3844/3819 stop-loss at 3886

FCPO Jul month rose 81 points or 2.12% to closed higher at 3895 on midday session. Malaysian palm oil futures rose by about 2.0% to approach MYR 3,900 per tonne, marking a third consecutive session of gains as trading resumed following a long weekend.

The actively traded FCPO contract opened higher, tracking strong gains in rival oil markets. It broke above the resistance zone of 3890 to 3895 on the hourly chart, which marks the upper boundary of a minor upward channel.

With recent price action forming a series of higher lows near the lower part of the channel, the market appears to be supported. However, technical selling may emerge due to lingering bearish sentiment from recent data. Immediate support is seen at the 3960–3965 range. If this level holds, traders may look for buying opportunities. A failure to hold above support could trigger further downside toward the 3835–3840 area. Stay cautious of potential shifts in market sentiment. The immediate support and resistance levels are identified at 3890 and 3915, 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