FCPO
FCPO 3rd Month Futures - 21 May 2025
Wed, 21-May-2025 08:55 am
by Dealing Team • Apex Futures

FCPO
Pivot
3903
Resistance
3921 / 3942 / 3963 / 3988
Support
3903 / 3880 / 3855 / 3836
Possible Range
3880 to 3980
Strategy
Long positions may be opened above 3921 with targets at 3942/3963 stop-loss at 3901
Short positions may be opened below 3921 with targets at 3903/3880 stop-loss at 3941

FCPO Aug month rose 26 points or 0.67% to closed higher at 3908. Malaysian palm oil futures rose for the second straight session on Tuesday, lifted by stronger gains in Dalian palm olein after China introduced fresh stimulus measures.

CBOT soybean oil Jul month rose 0.06 points to close moderately higher at 49.50 on Tuesday. Dalian’s active palm oil contract rose 18 points to close higher at 8094 on previous night session.

The actively traded FCPO contract continues to trend within a downward channel from a broader perspective. In the previous session, prices struggled to break above the 3940–3945 resistance range, capping further upside. However, on the lower end, we observed support forming around the 3895–3890 zone. If this support holds, we maintain our buy-on-retracement strategy, with potential upside revisiting the 3940–3945 area. That said, a break below the 3895–3890 support range may trigger renewed selling pressure. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 3903 and 3921, 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