FKLI
FKLI Spot Month Futures - 20 Jan 2025
Mon, 20-Jan-2025 08:30 am
by Dealing Team • Apex Futures

FKLI
Pivot
1557
Resistance
1572 / 1577 / 1582
Support
1567 / 1562 / 1557
Possible Range
1560 to 1580
Strategy
Long positions may be opened above 1567 with targets at 1572/1577 and stop-loss at 1565
Short positions may be opened below 1567 with targets at 1662/1557 and stop-loss at 1572

FKLI Jan month surged 16.5 points or 1.06% to closed higher at 1567. The FBM KLCI bounced back on Friday following four straight sessions of declines, as investors engaged in bargain-hunting to capitalize on oversold stocks.

Overnight Dow Jones index rose 334 to closed higher at 43487. U.S. stocks rallied on Friday, ending a strong week on optimism about the economy and interest rates, with the S&P 500 and Dow seeing their best weekly gains since November and the Nasdaq since December. Easing inflation fears and expectations of accelerated Fed rate cuts boosted sentiment.

The FKLI in daily time frame recover from the low and broke up the resistant line of the downtrend line at 1555 to 1557 to move further higher, we see the new support at 1561 to 1563, and reckon buy on retracement for shorter trade, highest likely to see 1577 to 1578 range if breaking above 1572 to 1573, as the bigger picture still remain bearish. Beware of any sentiment changes. Immediate support and resistance levels are identified at 1567 and 1572, 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