FCPO
FCPO 3rd Month Futures - 24 Jul 2025
Thu, 24-Jul-2025 09:05 am
by Dealing Team • Apex Futures

FCPO
Pivot
4295
Resistance
4319 / 4345 / 4371 / 4395
Support
4295 / 4270 / 4248 / 4226
Possible Range
4260 to 4360
Strategy
Long positions may be opened above 4295 with targets at 4319/4345 stop-loss at 4275
Short positions may be opened below 4295 with targets at 4270/4248 stop-loss at 4315

FCPO Oct month rose 51 points or 1.20% to closed higher at 4315. Malaysian palm oil futures closed higher on Wednesday, building on the previous session's gains, driven by short-covering and strength in Dalian palm olein and Chicago soyoil markets.

CBOT soyoil active traded contract rose 0.47 points to closed higher at 55.86 on previous session. Dalian’s active palm oil contract dropped 32 points to close lower at 8952 on previous night session.

The actively traded FCPO contract continues to move within an upward channel on the daily chart. On the hourly chart, upward momentum remains intact, but the price is encountering resistance in the 4325–4330 range. We may see mild profit-taking and a potential correction toward the support zone of 4275–4270. If this support holds, buying interest could re-emerge. However, if the level fails to hold, prices may decline further toward 4248 or lower. Currently, the 4248 range remains a key support area to sustain the upward bias. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4295 and 4319, respectively.

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.212042 4.248408
EUR 4.921000 4.929487
CNY 0.591903 0.592919
HKD 0.540309 0.544492
SGD 3.268153 3.293573