FCPO
FCPO 3rd Month Futures - 19 June 2026
Fri, 19-Jun-2026 10:33 am
by Dealing Team • Apex Futures

FCPO
Pivot
4562
Resistance
4585 / 4600 / 4615 / 4645
Support
4485 / 4505 / 4530 / 4560
Possible Range
4490 to 4620
Strategy
Long positions may be opened above 4570 with targets at 4600/4615 stop-loss at 4525
Short positions may be opened below 4540 with targets at 4505/4530 stop-loss at 4515

FCPO July futures down by 5 points, or 0.11% to settle at 4,573 in the previous session. Oil falls as International Energy Agency forecasts supply glut next year after U.S.-Iran deal. This geopolitical de-escalation was compounded by an International Energy Agency (IEA) forecast warning of a massive global supply overhang next year, which significantly reduces palm oil's attractiveness in the biofuel sector.

CBOT soyoil's actively traded contract declined by 1.32 points to 65.94 in the current session. Meanwhile, the Chinese oil market for today is close due to Dragon Boat Festival.

Despite easing geopolitical tensions following the Iran-Israel conflict, the active FCPO contract maintained a strong footing above the 4,500 mark. Buoyed by consistent demand and a brighter outlook for the broader edible oils sector, market sentiment remains bullish.

Prices are currently consolidating within a tight 4,500 to 4,600 range, though short-term momentum is shifting upward. Thanks to steady buying interest and solid defense of key support levels, the market's overall trajectory is turning positive. While immediate support and resistance are pegged at 4,560 and 4,590, a clear breakout above 4,600 would likely reinforce this bullish trend and unlock further upside potential.

(News Source: Reuters, CNBC)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.072797 4.105430
EUR 4.668191 4.673021
CNY 0.603925 0.604543
HKD 0.519593 0.523248
SGD 3.158830 3.181112