FCPO
FCPO 3rd Month Futures (PM) - 28 May 2025
Wed, 28-May-2025 02:33 pm
by Dealing Team • Apex Futures

FCPO
Pivot
3879
Resistance
3907 / 3922 / 3943 / 3965
Support
3879 / 3858 / 3833 / 3809
Possible Range
3840 to 3940
Strategy
Long positions may be opened above 3879 with targets 3907/3922 at stop-loss at 3859
Short positions may be opened below 3879 with targets at 3858/3833 stop-loss at 3899

FCPO Aug month rose 25 points or 0.65% to closed higher at 3893 on midday session. Malaysian palm oil futures hovered near MYR 3,890 per tonne, extending gains for the fourth straight session, supported by strength in rival vegetable oils on the Dalian exchange and firmer crude oil prices.

The actively traded FCPO contract recently broke above the resistance line of the broader downward channel, previously seen at the 3875–3880 range, which now acts as a new support level. We maintain a buy-on-retracement strategy for the upcoming session. 

On the hourly chart, the price is trading within a sideways range, with the mid-range support seen at 3855–3860, indicating stability and potential for an upside move. If this support holds, prices may climb towards the 3922 level or even test the 3943 zone, marking the top of the sideways range. However, if the 3880–3875 support fails to hold, selling pressure could return, leading to a potential pullback. Stay cautious of potential shifts in market sentiment. The immediate support and resistance levels are identified at 3879 and 3940, 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