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데이터 기준일: 2026-10-08 · 결제 기준: 거래소 최종 일일 결제가

FCPO=F Deep Dive | Bullish on Supply Tightness | 2026-10-09

We maintain a bullish bias on FCPO=F, driven by persistent supply constraints, elevated open interest signaling strong speculative commitment, and technical resilience above key support levels. Palm oil futures have rebounded sharply from recent lows, supported by tightening global stocks and a weakening ringgit, while technical indicators point to further upside potential. The primary invalidation level sits at 4548, a breach of which would negate the bullish thesis and suggest a deeper correction. Current market dynamics favor long positions, with momentum building as prices hold above the 20-day moving average and approach resistance zones. Risk management remains critical given the elevated volatility environment, but the fundamental backdrop supports continued upward pressure on prices.