FCPO
FCPO 3rd Month Futures - 19 May 2025
Mon, 19-May-2025 09:00 am
by Dealing Team • Apex Futures

FCPO
Pivot
3826
Resistance
3826 / 3850 / 3873 / 3896
Support
3801 / 3776 / 3751 / 3728
Possible Range
3760 to 3860
Strategy
Long positions may be opened above 3826 with targets at 3850/3873 stop-loss at 3806
Short positions may be opened below 3826 with targets at 3801/3776 stop-loss at 3846

FCPO Aug month dropped 53 points or 1.37% to closed lower at 3815. Malaysian palm oil futures declined on Friday, marking a third consecutive weekly loss, pressured by weakness in rival vegetable oils on the Chicago and Dalian exchanges.

CBOT soybean oil Jul month rose 0.10 points to close slightly higher at 49.03 on Friday. Dalian’s active palm oil contract rose 16 points to close slightly higher at 8022 on previous night session.

The actively traded FCPO contract, from a broader perspective, continues to trade within a downward channel. The price recently faced resistance in the new range of 3870 to 3865. We maintain our sell-on-rebound strategy for the upcoming session. Immediate support is seen at the 3800 to 3795 range. If this level holds, a mild technical rebound may occur. However, if support fails, further selling pressure could push prices down toward 3776, with the next key support at 3751. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 3801 and 3826, 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