FCPO
FCPO 3rd Month Futures (PM) - 23 May 2025
Fri, 23-May-2025 02:36 pm
by Dealing Team • Apex Futures

FCPO
Pivot
3845
Resistance
3845 / 3868 / 3894 / 3917
Support
3821 / 3796 / 3771 / 3750
Possible Range
3820 to 3920
Strategy
Long positions may be opened above 3845 with targets 3868/3894 at stop-loss at 3825
Short positions may be opened below 3845 with targets at 3821/3796 stop-loss at 3865

FCPO Aug month rose 24 points or 0.63% to closed higher at 3844 on midday session. Malaysian palm oil futures opened higher on Friday and were set for a weekly gain, supported by stronger soyoil prices. However, gains were capped by weaker Dalian palm olein and crude oil markets.

The actively traded FCPO contract traded higher during the morning session. From a broader perspective, prices continue to move within a downward channel. On the shorter-term hourly chart, support was found around the 3800–3805 range, forming a potential double bottom pattern. If the price holds above the 3845–3850 zone, there is potential for an upward move toward the 3868 to 3894 levels. However, if this support fails to hold, the market may turn lower again, with a possible retest of the 3805–3800 support area. Stay cautious of potential shifts in market sentiment. The immediate support and resistance levels are identified at 3821 and 3845, respectively. 

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.060398 4.090876
EUR 4.772014 4.774503
CNY 0.579057 0.579372
HKD 0.522130 0.525548
SGD 3.142987 3.163685