FCPO
FCPO 3rd Month Futures (PM) - 20 May 2025
Tue, 20-May-2025 02:29 pm
by Dealing Team • Apex Futures

FCPO
Pivot
3913
Resistance
3939 / 3965 / 3992 / 4017
Support
3913 / 3886 / 3860 / 3834
Possible Range
3900 to 4000
Strategy
Long positions may be opened above 3939 with targets 3965/3992 at stop-loss at 3919
Short positions may be opened below 3939 with targets at 3913/3886 stop-loss at 3959

FCPO Aug month rose 56 points or 1.44% to closed higher at 3938 on midday session. Malaysian palm oil futures opened higher for a second straight session on Tuesday, lifted by gains in rival Dalian oils and a weaker ringgit, as traders looked ahead to export estimates from cargo surveyors.

The actively traded FCPO contract continues to move within a downward channel from a broader perspective. Since Monday night’s session, prices have found support in the 3895–3890 range and have continued to climb. We maintain a buy-on-retracement strategy, provided the price holds above the new support zone at 3935–3940. If this level is sustained, prices may potentially rise toward 3965 or even as high as 3992. However, if the support fails to hold, selling pressure could resurface. The key support zone at 3895–3890 remains crucial for maintaining the current upside bias. Stay cautious of potential shifts in market sentiment. The immediate support and resistance levels are identified at 3913 and 3939, 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