FCPO
FCPO 3rd Month Futures - 22 May 2025
Thu, 22-May-2025 09:04 am
by Dealing Team • Apex Futures

FCPO
Pivot
3901
Resistance
3921 / 3942 / 3963 / 3988
Support
3901 / 3879 / 3857 / 3836
Possible Range
3860 to 3960
Strategy
Long positions may be opened above 3901 with targets at 3921/3942 stop-loss at 3881
Short positions may be opened below 3901 with targets at 3879/3857 stop-loss at 3921

FCPO Aug month dropped 14 points or 0.36% to closed lower at 3894. Malaysian palm oil futures ended a two-day winning streak on Wednesday, reversing earlier gains as increasing production and inventory levels pressured the market. However, the decline was cushioned by strength in rival edible oils and relatively upbeat export data.

CBOT soybean oil Jul month rose 0.33 points to close higher at 49.83 on Wednesday. Dalian’s active palm oil contract dropped 16 points to close lower at 8088 on previous night session.

The actively traded FCPO contract continues to trend within a broader downward channel. Earlier this week, prices struggled to break above the key resistance zone of 3,940–3,945, which capped further upside momentum. Currently, prices are hovering within a narrow range, with resistance seen at 3,920–3,925 and support at 3,880–3,875. A breakout on either side could signal the next directional move. For now, selling appears more favorable, as the downward channel remains intact. A decisive break above the crucial 3,940–3,945 resistance is needed to indicate a potential reversal. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 3901 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