Crude Palm Oil Futures Drop Further To RM4,016
19/02/2026 (Business Today) - The crude palm oil futures (FCPO) contract extended its downward momentum on Monday, falling RM30 to close at RM4,016, as persistent selling pressure kept prices near a key psychological support level of RM4,000.
In a trading note, RHB said the commodity opened at RM4,050 and briefly climbed to an intraday high of RM4,075 before continuous selling dragged prices down to a session low of RM4,008. The contract eventually settled at RM4,016, forming a bearish candlestick pattern that reinforces the prevailing downtrend.
The research house said FCPO remains below both its 50-day and 200-day simple moving averages (SMA), signalling that sellers continue to dominate the market. The relative strength index (RSI) has also slipped below the 50% mark, indicating strengthening bearish momentum and sustained downside pressure.
RHB maintained its negative trading bias on the commodity and advised traders to keep their short positions initiated at the Feb 10 closing price of RM4,095.
To manage trading risks, the stop-loss level has been set at RM4,250.
The immediate support level is seen at RM4,000, followed by RM3,850 if selling pressure intensifies. On the upside, resistance is pegged at RM4,250, with a higher resistance level at RM4,400.
The research note suggests that unless FCPO breaks above the stop-loss threshold, the broader technical outlook remains skewed to the downside, with the market likely to test the RM4,000 support in the near term.