FCPO
FCPO 3rd Month Futures - 28 May 2025
Wed, 28-May-2025 09:02 am
by Dealing Team • Apex Futures

FCPO
Pivot
3846
Resistance
3870 / 3895 / 3918 / 3940
Support
3846 / 3820 / 3797 / 3774
Possible Range
3840 to 3940
Strategy
Long positions may be opened above 3870 with targets at 3895/3918 stop-loss at 3850
Short positions may be opened below 3870 with targets at 3846/3820 stop-loss at 3890

FCPO Aug month rose 35 points or 0.91% to closed higher at 3868. Malaysian palm oil futures closed higher on Tuesday, rebounding from earlier losses, even as markets braced for a potential rise in production and stock levels.

The CBOT soyoil active traded contract rose 0.22 on previous session closed. Dalian’s active palm oil contract rose 48 points to close higher at 8048 on previous night session.

The actively traded FCPO contract continues to trade within a broader downward channel, with a key resistance level at the 3870–3875 zone that must be breached for further upside. On the hourly chart, the price remains range-bound, showing firm support around the 3800–3805 level since the previous session. We now identify a new support zone at 3855–3860, the midpoint of the current sideways range. Holding above this level could potentially lift prices toward 3895, with further upside toward 3918. However, a break below this support may trigger renewed selling pressure, pulling the price back toward the bottom of the range. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 3846 and 3870, respectively.

(News Source: Reuters)

Read more details in:

Disclaimer

The report is for internal and private circulation only and shall not be reproduced either in part or otherwise without the prior written consent of Apex Securities Berhad. The opinions and information contained herein are based on available data believed to be reliable. It is not to be construed as an offer, invitation or solicitation to buy or sell the securities covered by this report.

Opinions, estimates and projections in this report constitute the current judgment of the author. They do not necessarily reflect the opinion of Apex Securities Berhad and are subject to change without notice. Apex Securities Berhad has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

Apex Securities Berhad does not warrant the accuracy of anything stated herein in any manner whatsoever and no reliance upon such statement by anyone shall give rise to any claim whatsoever against Apex Securities Berhad. Apex Securities Berhad may from time to time have an interest in the company mentioned by this report. This report may not be reproduced, copied or circulated without the prior written approval of Apex Securities Berhad.

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