FKLI
FKLI Spot Month Futures - 7 Jan 2025
Tue, 07-Jan-2025 08:25 am
by Dealing Team • Apex Futures

FKLI
Pivot
1627
Resistance
1627 / 1630 / 1633
Support
1623 / 1620 / 1617
Possible Range
1615 to 1635
Strategy
Long positions may be opened above 1627 with targets at 1630/1633 and stop-loss at 1622
Short positions may be opened below 1627 with targets at 1623/1620 and stop-loss at 1632

FKLI Jan month dropped 7 points or 0.43% to closed lower at 1623.5. The FBM KLCI extended its decline for a third consecutive session, pressured by selling activity in PETRONAS-linked stocks.

Overnight Dow Jones dropped 25 points to closed lower at 42706. The Dow fell, while the S&P 500 and Nasdaq Composite climbed to over one-week highs on Monday. The gains were fueled by a rally in semiconductor stocks and a report suggesting that the incoming Trump administration might take a less aggressive approach to tariffs than previously expected.

The FKLI in daily time frame remain trading within a wide range of sideway consolidation. The index trades lower on previous session and likely to remain in downward channel trading, with sell on rebound as main plan. Support sees at 1632 to 1624 range, breaking below could see further downside.  Immediate support and resistance levels are identified at 1623 and 1627, respectively.

(News Source: The Star; Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 3.952219 3.979032
EUR 4.632284 4.636049
CNY 0.579684 0.580150
HKD 0.504395 0.507834
SGD 3.092296 3.113419