FCPO
FCPO 3rd Month Futures - 15 May 2025
Thu, 15-May-2025 08:43 am
by Dealing Team • Apex Futures

FCPO
Pivot
3938
Resistance
3960 / 3985 / 4012 / 4040
Support
3938 / 3915 / 3892 / 3870
Possible Range
3890 to 3990
Strategy
Long positions may be opened above 3938 with targets at 3960/3985 stop-loss at 3918
Short positions may be opened below 3938 with targets at 3915/3892 stop-loss at 3958

FCPO Jul month rose 30 points or 0.77% to closed higher at 3923. Malaysian palm oil futures climbed for a fourth consecutive session on Wednesday, supported by strength in related vegetable oil prices on the Dalian exchange, though a stronger ringgit limited further upside.

CBOT soybean oil Jul month tumbled 2.22 to closed lower at 50.09 on Monday. Dalian’s active palm oil contract rose 68 points to close higher at 8176 on previous night session 

The actively traded FCPO contract remains in an upward trend within a broader downward channel. However, with prices now hovering below the channel’s resistance zone around 3995–4000 on the daily chart, there is potential for a downside bias to emerge. On the hourly chart, immediate support is seen at the 3935–3940 range. If this support holds, it may offer a short-term buying opportunity. Conversely, a break below this level could trigger selling pressure, with prices likely to retreat toward 3915 or even lower to the 3892 range. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 3938 and 3960, 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