FCPO
FCPO 3rd Month Futures - 24 Jun 2025
Tue, 24-Jun-2025 09:37 am
by Dealing Team • Apex Futures

FCPO
Pivot
4120
Resistance
4082 / 4106 / 4130 / 4155
Support
4061 / 4039 / 4017 / 3995
Possible Range
4000 to 4100
Strategy
Long positions may be opened above 4082 with targets at 4106/4130 stop-loss at 4062
Short positions may be opened below 4082 with targets at 4061/4039 stop-loss at 4102

FCPO Sep month rose 8 points or 0.19% to closed slightly higher at 4126. Malaysian palm oil futures closed higher on Monday, recovering from earlier losses, supported by firmer crude oil prices and a weaker ringgit. However, gains were limited by the decline in rival vegetable oils on the Dalian market.

CBOT soyoil plunged 1.35 to closed lower at 53.75 on previous session.  Dalian’s active palm oil contract dropped 68 points to close lower at 8440 on previous night session.

The actively traded FCPO contract remained capped below the 4,145–4,150 resistance zone since last week, continuing to trade within a narrow range in the previous session. We maintain our view that the market is undergoing a broader sideways consolidation, with prices likely staying below the upper resistance zone. On the hourly chart, the market has begun a technical correction, breaking below the earlier support range of 4,090–4,110 and trending lower. We adopt a sell-on-rebound strategy for the upcoming session, with immediate resistance seen at 4,080–4,085. If this level holds, the price may drift lower toward 4,060–4,065 or even further. Negative sentiment in the rival oil markets is contributing to the selling pressure. Key mid-range and crucial support lies at the 4,000–4,010 zone. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4061 and 4082, respectively.

(News Source: Reuters)

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Market Mover
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USD 4.210973 4.249411
EUR 4.954495 4.965490
CNY 0.589445 0.590817
HKD 0.536642 0.541158
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