FCPO
FCPO 3rd Month Futures (PM) - 29 May 2025
Thu, 29-May-2025 02:25 pm
by Dealing Team • Apex Futures

FCPO
Pivot
3917
Resistance
3952 / 3974 / 3998 / 4023
Support
3935 / 3913 / 3888 / 3865
Possible Range
3875 to 3975
Strategy
Long positions may be opened above 3935 with targets 3952/3974 at stop-loss at 3915
Short positions may be opened below 3935 with targets at 3913/3888 stop-loss at 3955

FCPO Aug month rose 34 points or 0.87% to closed higher at 3933 on midday session. Malaysian palm oil futures extended their gains for a fifth straight session on Thursday, buoyed by firmer prices of palm olein, Chicago soyoil, and crude oil.

The actively traded FCPO contract opened higher with a gap up, with prices currently hovering near the upper end of the recent sideways consolidation range at 3935–3940. If this range continues to hold, there is potential for further upside toward the 3970–3975 zone. However, if the 3935–3940 support fails to hold, the market may turn lower. Immediate downside support is seen at 3890–3895, which could help sustain the current upward bias. Stay cautious of potential shifts in market sentiment. The immediate support and resistance levels are identified at 3935 and 3952, 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