FKLI
FKLI Spot Month Futures (PM) - 6 Jan 2025
Mon, 06-Jan-2025 02:26 pm
by Dealing Team • Apex Futures

FKLI
Pivot
1629
Resistance
1630 / 1634 / 1638
Support
1624 / 1620 / 1616
Possible Range
1625 to 1645
Strategy
Long positions may be opened above 1627 with targets at 1630/1634 and stop-loss at 1622
Short positions may be opened below 1627 with targets at 1624/1620 and stop-loss at 1632

FKLI Jan month dropped 3 points or 0.18% to closed lower at 1627.5 on midday session. The domestic market surrendered early gains as investors took profit, anticipating further foreign outflows amid a strengthening US dollar. By noon closing, the benchmark FBM KLCI had declined 3.89 points to 1,625.57, with bank stocks reversing earlier advances to trade in negative territory.

We remain our view that the FKLI index resisted at the area of 1643 to 1644, and likely to remain trading a very wide range of sideways, crucial support see at 1617 to 1619. For short term, the index remains to trading in downward channel pattern, with sell on rebound the main plan. The index touched support line at 1624 to 1623 range and see some buying, if the price could break resistant range at 1630 to 1629, we might see some upside on technical buying with limited gain. Immediate support and resistance levels are identified at 1624 and 1630, respectively.

(News Source: The Star)

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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