FCPO
FCPO 3rd Month Futures - 15 May 2025
Fri, 16-May-2025 08:52 am
by Dealing Team • Apex Futures

FCPO
Pivot
3894
Resistance
3865 / 3894 / 3917 / 3940
Support
3838 / 3813 / 3790 / 3766
Possible Range
3770 to 3870
Strategy
Long positions may be opened above 3838 targets at 3865/3894 stop-loss at 3818
Short positions may be opened below 3838 targets at 3813/3790 stop-loss at 3858

FCPO Aug month dropped 59 points or 1.51% to closed lower at 3856. -session Malaysian palm oil futures fell on Thursday, ending a four winning streak, pressured by weakness in Chicago soyoil. However, strong export data helped limit the downside.

 

CBOT soybean oil Jul month tumbled 3 points to close lower at 49.32 on dropped 106 points  Thursday. Dalian’s active palm oil contract to close lower at 7998 on previous night session.

 

The actively traded FCPO contract, in a broader view, recently failed to break above the resistance zone of 3995–4000 within the downward channel and has since shifted into selling momentum. We maintain our sell-on-rebound strategy. On the hourly chart, the price is hovering around immediate support at the 3935–3940 range. This level presents a selling opportunity, with potential downside toward 3813 or even as low as 3790. If this immediate support range holds, some technical buying may emerge, though the upside is likely to remain limited. Beware of any potential sentiment changes.The immediate support and resistance levels are pinpointed at 3838 and 3865, respectively. 

 

(News Source: Reuters)


 

(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