FKLI
FKLI Spot Month Futures - 3 Jan 2025
Fri, 03-Jan-2025 08:29 am
by Dealing Team • Apex Futures

FKLI
Pivot
1635
Resistance
1635 / 1639 / 1642
Support
1630 / 1626 / 1621
Possible Range
1625 to 1645
Strategy
Long positions may be opened above 1635 with targets at 1639/1642 and stop-loss at 1630
Short positions may be opened below 1635 with targets at 1630/1626 and stop-loss at 1640

FKLI Jan month dropped 4 points or 0.24% to closed lower 1638. The FBM KLCI faced challenges on the first trading day of the year, closing on a subdued note amid a cautious market environment.

Overnight Dow Jones dropped 151 points to closed lower at 42392. Wall Street experienced a volatile session on Thursday, closing lower as investors navigated the new year amid solid labor market data, a strengthening dollar, and a sharp decline in Tesla shares. All three major U.S. stock indices finished in negative territory, reversing an earlier rally but recovering slightly from their session lows. 

The FKLI trade lower on previous session and likely to further down on technical correction, we reckon rebound sell for today session, support see at 1630 to 1631, breaking below could see further lower toward next support.  Immediate support and resistance levels are identified at 1630 and 1635, respectively.

(News Source: The Star; Reuters)

Read more details in:

Disclaimer

The report is for internal and private circulation only and shall not be reproduced either in part or otherwise without the prior written consent of Apex Securities Berhad. The opinions and information contained herein are based on available data believed to be reliable. It is not to be construed as an offer, invitation or solicitation to buy or sell the securities covered by this report.

Opinions, estimates and projections in this report constitute the current judgment of the author. They do not necessarily reflect the opinion of Apex Securities Berhad and are subject to change without notice. Apex Securities Berhad has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

Apex Securities Berhad does not warrant the accuracy of anything stated herein in any manner whatsoever and no reliance upon such statement by anyone shall give rise to any claim whatsoever against Apex Securities Berhad. Apex Securities Berhad may from time to time have an interest in the company mentioned by this report. This report may not be reproduced, copied or circulated without the prior written approval of Apex Securities Berhad.

Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 3.936314 3.966986
EUR 4.638033 4.641717
CNY 0.579004 0.579460
HKD 0.502535 0.505960
SGD 3.092229 3.113332