FKLI
FKLI Spot Month Futures - 8 Jan 2025
Wed, 08-Jan-2025 08:34 am
by Dealing Team • Apex Futures

FKLI
Pivot
1629
Resistance
1632 / 1636 / 1639
Support
1627 / 1623 / 1619
Possible Range
1620 to 1640
Strategy
Long positions may be opened above 1632 with targets at 1636/1639 and stop-loss at 1627
Short positions may be opened below 1632 with targets at 1627/1623 and stop-loss at 1637

FKLI Jan month rose 6.5 points or 0.40% to closed higher at 1630. The FBM KLCI broke its three-day losing streak, closing higher on Tuesday despite prevailing cautious market sentiment.

Overnight Dow Jones dropped 178 points to closed lower at 42528. U.S. stocks dropped on Tuesday as strong economic data fueled concerns about slower Federal Reserve easing. Job openings unexpectedly rose in November, while December's services activity accelerated, with input prices hitting a near two-year high.

The FKLI in daily time frame remain trading within a wide range of sideway consolidation and supported above the middle of the range at, 1616 to 1618, trading above this range remain to see positive momentum. However, we spot the downward channel in hourly chart, for short, the index likely to trade in sell on rebound mode for further correction, resistant see at 1632 to 1633, support at 1627 to 1626, if breaking below could see further lower but limited downside.  Immediate support and resistance levels are identified at 1627 and 1632, 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
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