FKLI
FKLI Spot Month Futures (PM) - 8 Jan 2025
Wed, 08-Jan-2025 02:23 pm
by Dealing Team • Apex Futures

FKLI
Pivot
1627
Resistance
1627 / 1631 / 1635
Support
1623 / 1619 / 1616
Possible Range
1620 to 1640
Strategy
Long positions may be opened above 1627 with targets at 1631/1635 and stop-loss at 1622
Short positions may be opened below 1627 with targets at 1623/1619 and stop-loss at 1632

FKLI Jan month dropped 5.5 points or 0.34% to closed lower at 1624.5 on midday session. The FBM KLCI dropped sharply after a significant overnight decline on Wall Street, driven by concerns that elevated US inflation could prolong higher interest rates.

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 healthy technical correction. The index remains trading within a downward channel, with the price pointing to downside movement, sell on rebound remain main plan. Support spot at 1623 to 1624, breaking below could see further lower. Beware of any sentiment changes. Immediate support and resistance levels are identified at 1623 and 1627 respectively.

(News Source: The Star)

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