FKLI
FKLI Spot Month Futures (PM) - 13 Jan 2025
Mon, 13-Jan-2025 02:27 pm
by Dealing Team • Apex Futures

FKLI
Pivot
1582
Resistance
1582 / 1586 / 1590
Support
1577 / 1572 / 1569
Possible Range
1570 to 1590
Strategy
Long positions may be opened above 1582 with targets at 1586/1590 and stop-loss at 1577
Short positions may be opened below 1582 with targets at 1577/1572 and stop-loss at 1587

FKLI Jan month dropped 17 point or 1.07% to closed lower at 1578 on midday session. The FBM KLCI index returned to a downward trend, with over 800 stocks declining, as another hawkish U.S. jobs report reinforced expectations that interest rates in the world's largest economy will remain elevated for an extended period.

The FKLI in daily time frame broke down the support range, bottom of sideway at 1580 to 1582, now serve as major resistant range.  indicating the continue of downside bias trading, sell on rebound plan remain the main strategy. Breaking below the first support at 1577 to 1576 could see further lower. Immediate support and resistance levels are identified at 1577 and 1582 respectively.

(News Source: The Star)

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