FCPO
FCPO 3rd Month Futures - 26 May 2025
Mon, 26-May-2025 08:56 am
by Dealing Team • Apex Futures

FCPO
Pivot
3835
Resistance
3835 / 3861 / 3884 / 3910
Support
3813 / 3789 / 3766 / 3745
Possible Range
3800 to 3900
Strategy
Long positions may be opened above 3835 with targets at 3861/3884 stop-loss at 3815
Short positions may be opened below 3835 with targets at 3813/3789 stop-loss at 3855

FCPO Aug month rose 7 points or 0.18% to closed slightly higher at 3827. Malaysian palm oil futures closed higher on Friday and recorded a weekly gain, although expectations of increased production limited the upside.

CBOT soybean oil Jul month dropped 0.24 points to close lower at 49.35 on Friday. Dalian’s active palm oil contract dropped 54 points to close lower at 7978 on previous night session.

The actively traded FCPO contract, from a broader perspective, continues to move within a downward channel and is currently hovering around the mid-range of this declining trend. On the shorter-term hourly chart, support appears to be holding around the 3800–3805 level, forming a potential double bottom pattern. This suggests some buying interest at this zone. Immediate resistance is seen around 3835–3840. A break above this resistance zone could trigger technical buying, potentially pushing prices up towards the 3865–3870 area. However, if the price fails to break above this resistance, selling pressure may resume and the downtrend could continue. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 3813 and 3835, 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