FKLI
FKLI Spot Month Futures - 15 Jan 2025
Wed, 15-Jan-2025 08:39 am
by Dealing Team • Apex Futures

FKLI
Pivot
1581
Resistance
1577 / 1581 / 1585
Support
1572 / 1568 / 1563
Possible Range
1565 to 1585
Strategy
Long positions may be opened above 1577 with targets at 1581/1585 and stop-loss at 1572
Short positions may be opened below 1577 with targets at 1572/1568 and stop-loss at 1582

FKLI Jan month dropped 5.5 points or 0.35% to closed lower at 1576. The FBM KLCI saw a brief rebound before closing at its lowest level since June 2024 on Tuesday, as market sentiment deteriorated. Stocks such as Sunway, YTL Power, and CIMB Group weighed heavily on the index.

Overnight Dow Jones index rose 221 to closed higher at 42518. The S&P 500 inched up, while the Nasdaq slipped following a volatile session on Tuesday, as investors assessed inflation data and awaited quarterly earnings reports to validate stock valuations and gauge the resilience of the U.S. economy.

The FKLI in daily time frame broke down the support of wide range sideway at 1582 to 1583 and trading further lower, new resistant range spot at 1577 to 1576, sell on rebound remain main plan. However, we see support at shorter time frame at the area of 1572 to 1573 range, forms double bottom, we continue monitor, if the price able to support for another time, technical buying is possible. Beware of any sentiment change. Immediate support and resistance levels are identified at 1572 and 1577, 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
SGD 3.092296 3.113419