12/10/2026 (Business Today) - Crude palm oil (CPO) futures are expected to remain under selling pressure after failing to break above the RM4,750 resistance level, with prices potentially retreating towards RM4,500 in the near term.

According to a technical research report, the benchmark crude palm oil futures (FCPO) contract declined RM69 to close at RM4,592 on Friday, reinforcing the prevailing bearish outlook.

The commodity opened at RM4,657 and traded between RM4,580 and RM4,756 during the session before ending lower.

The report said the failure to sustain gains above RM4,750 confirmed the level as a major resistance point, with renewed selling pressure likely if prices remain below it.

The contract has also closed below its 50-day simple moving average (SMA), indicating that bearish momentum continues to dominate market sentiment.

The research house maintained its negative trading bias and recommended that traders retain short positions initiated on Sept 23 at RM4,768.

The stop-loss level remains at RM4,750 to manage trading risks.

Immediate support is identified at RM4,500, followed by RM4,400 if selling pressure intensifies.

On the upside, resistance remains at RM4,750, with the next resistance level at RM4,850 should a bullish breakout occur.

Overall, the report suggests that FCPO futures remain vulnerable to further downside unless prices can decisively overcome the RM4,750 resistance level.

https://www.businesstoday.com.my/2026/10/12/rhb-sees-cpo-prices-retreating-further-to-rm4500/