FKLI
FKLI Spot Month Futures - 16 Jan 2025
Thu, 16-Jan-2025 08:28 am
by Dealing Team • Apex Futures

FKLI
Pivot
1563
Resistance
1569 / 1573 / 1577
Support
1563 / 1558 / 1554
Possible Range
1560 to 1580
Strategy
Long positions may be opened above 1563 with targets at 1569/1573 and stop-loss at 1558
Short positions may be opened below 1563 with targets at 1558/1554 and stop-loss at 1568

FKLI Jan month dipped 23 points or 1.46% to closed lower at 1553. Bursa Malaysia slipped back into negative territory on Wednesday, with nearly 1,000 counters ending in the red as investors continued to sell off shares amid subdued market sentiment.

Overnight Dow Jones index surged 703 to closed higher at 43221. U.S. stocks soared on Wednesday, with all three major indexes posting their largest daily percentage gains in over two months. The rally was driven by lower-than-expected core inflation data for December and strong earnings reports from major U.S. banks. According to the Labor Department, the consumer price index (CPI) recorded its largest increase in nine months due to rising energy costs, while underlying inflation pressures showed signs of easing.

The FKLI in daily time frame broke down the support of downward channel consolidation 1563 to 1564, reaching the low at 1551.5 and see bounce back, now remain standing above 1563, if this range could sustain, we might see further buying toward the resistant at 1569 to 1572 range or further higher. Beware that the chart pattern remains bearish and we see upside could be limited. Immediate support and resistance levels are identified at 1563 and 1569, 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