🌴 Palm Oil Futures (FCPOc1) — Market Snapshot 🌴
📉 Trend: Downward
⚠️ High stockpiles & production surge and 5 years low imports of India continue to pressure the market.
📊 Technical Indicator: 🔁 Fibonacci Retracement
🧭 Price approaching key support — potential for technical bounce near retracement zone.
Fibonacci Levels:
S3 — 4,043.67
S2 — 4,072.32
S1 — 4,090.02
💰 Support: 🔹 4,043 MYR/ton
🎯 Traders watching for reversal signals around this zone for short-term entries.
📈 Open Interest: 84.08K contracts
🪙 Indicates moderate participation — possible buildup before next move.
🛢️ Future Type: Crude Palm Oil (FCPOc1)
🌾 Benchmark Malaysian palm oil futures traded on Bursa Malaysia Derivatives.
It’s a caution that the information provided is for knowledge purposes only and should not be taken as a recommendation to buy or sell assets.
