FKLI
FKLI Spot Month Futures - 9 Jan 2025
Thu, 09-Jan-2025 08:28 am
by Dealing Team • Apex Futures

FKLI
Pivot
1619
Resistance
1613 / 1619 / 1622
Support
1608 / 1604 / 1600
Possible Range
1605 to 1625
Strategy
Long positions may be opened above 1613 with targets at 1619/1622 and stop-loss at 1608
Short positions may be opened below 1613 with targets at 1608/1604 and stop-loss at 1618

FKLI Jan month plunged 17 points or 1.04% to closed lower at 1613. The FBM KLCI fell sharply, tracking an overnight plunge on Wall Street as concerns over US inflation heightened fears that interest rates may remain elevated for an extended period.

Overnight Dow Jones rose 106 points to closed higher at 42635. U.S. stocks closed largely flat on Wednesday in a session marked by indecisiveness, as investors weighed the implications of two conflicting jobs reports and a report suggesting that President-elect Donald Trump was considering declaring a national economic emergency over inflation.

The FKLI in daily time frame remain trading within a wide range of sideway consolidation, the index on previous session dropped sharply broke down the middle of the sideway, which spotted at 1616 to 1618. We anticipate the index to have some technical buying for coming session, however sell on rebound remain main plan if index trading below the middle of sideway. The crucial support sees at 1604 to 1605, support above this range likely to provide buying opportunity, if fail to support likely to further down. Immediate support and resistance levels are identified at 1608 and 1613, respectively.

(News Source: The Star; Reuters)

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Market Mover
Settlement Rates
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