FKLI
FKLI Spot Month Futures (PM) - 7 Jan 2025
Tue, 07-Jan-2025 02:14 pm
by Dealing Team • Apex Futures

FKLI
Pivot
1630
Resistance
1635 / 1638 / 1642
Support
1630 / 1626 / 1621
Possible Range
1625 to 1645
Strategy
Long positions may be opened above 1630 with targets at 1635/1638 and stop-loss at 1625
Short positions may be opened below 1630 with targets at 1626/1621 and stop-loss at 1635

FKLI Jan month rose 8.5 points or 0.52% to closed higher at 1632 on midday session. The FBM KLCI bounced back above the key support level of 1,630 points during morning trade, recovering from yesterday's sell-off as investors assessed the potential risks of the incoming Trump administration and the possibility of the US dollar outperforming other global currencies.

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. The index breaking above the resistant line of downward channel, at 1628 to 1630, now serve as support range, we see buy on retreatment opportunity for coming session, potentially reaching 1635 to 1636 range. Beware of any sentiment changes. Immediate support and resistance levels are identified at 1630 and 1635, respectively.

(News Source: The Star)

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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