FCPO
FCPO 3rd Month Futures (PM) - 14 May 2025
Wed, 14-May-2025 02:28 pm
by Dealing Team • Apex Futures

FCPO
Pivot
3947
Resistance
3974 / 4001 / 4025 / 4049
Support
3947 / 3923 / 3899 / 3873
Possible Range
3890 to 3990
Strategy
Long positions may be opened above 3947 with targets 3974/4001 at stop-loss at 3927
Short positions may be opened below 3947 with targets at 3923/3899 stop-loss at 3967

FCPO Jul month rose 60 points or 1.54% to closed higher at 3953 on midday session. Malaysian palm oil futures rose for the fourth straight session on Wednesday, supported by strength in related vegetable oil markets on the Dalian and Chicago exchanges.

The actively traded FCPO contract continues to trend upward within a broader downward channel. After testing the channel's resistance line at 3996, the market saw profit-taking, prompting a price pullback. Immediate support is identified in the 3945–3940 zone. If this area holds, it could offer a fresh buying opportunity. However, if the support fails to hold, selling pressure may persist, potentially driving prices lower toward 3923, with further downside risk to 3899. Stay cautious of potential shifts in market sentiment. The immediate support and resistance levels are identified at 3947 and 3974, 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