FCPO
FCPO 3rd Month Futures - 14 May 2025
Wed, 14-May-2025 08:44 am
by Dealing Team • Apex Futures

FCPO
Pivot
3894
Resistance
3940 / 3965 / 3991 / 4014
Support
3915 / 3894 / 3870 / 3846
Possible Range
3890 to 3990
Strategy
Long positions may be opened above 3940 with targets at 3965/3991 stop-loss at 3920
Short positions may be opened below 3940 with targets at 3915/3894 stop-loss at 3960

FCPO Jul month rose 79 points or 2.07% to closed higher at 3893. Malaysian palm oil futures rose for a third consecutive session on Tuesday, following a long holiday weekend, supported by firmer rival soyoil prices and a weaker ringgit. However, gains were capped by expectations of rising stock levels.

CBOT soybean oil Jul month jumped 1.56 to closed higher at 51.48 on Monday. Dalian’s active palm oil contract rose 26 points to close higher at 8036 on previous night session 

The actively traded FCPO contract continues to move with upward momentum within a broader downward channel, appearing to head toward the channel’s resistance line. A series of higher lows near the lower boundary suggests sustained upward bias. Immediate resistance is seen at the 3940–3945 range. A breakout above this level could lift prices toward 3965, with a possible extension to 3995. However, if the price fails to break above resistance, selling pressure may return, pulling prices back to the support zone at 3900 or as low as 3894.

We maintain our “buy on retracement” strategy for the upcoming session. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 3915 and 3940, 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