FKLI
FKLI Spot Month Futures - 4 Feb 2025
Tue, 04-Feb-2025 08:40 am
by Dealing Team • Apex Futures

FKLI
Pivot
1548
Resistance
1553 / 1557 / 1561
Support
1548 / 1544 / 1539
Possible Range
1545 to 1565
Strategy
Long positions may be opened above 1553 with targets at 1557/1561 and stop-loss at 1548
Short positions may be opened below 1553 with targets at 1548/1544 and stop-loss at 1558

FKLI Feb month dropped 3.5 points or 0.22% to closed lower at 1553.5. The FBM KLCI ended lower on Monday, mirroring losses in regional markets as concerns over a potential global trade war escalated following U.S. President Donald Trump's broad tariff measures.

Overnight Dow Jones index dropped 122 to closed lower at 44421. Major stock indexes closed lower on Monday but recovered some losses after U.S. President Trump delayed tariffs on Mexico. The pause came as Mexico agreed to deploy 10,000 National Guard troops to curb illegal drug flows, including fentanyl.

The FKLI is trading below the support line of the downward channel at the 1553–1555 zone on the daily chart, now acting as immediate resistance, signaling a bearish outlook with a sell-on-rebound strategy. Recent selling may spark some technical buying, but upside potential appears limited. If the immediate resistance at 1553 is broken, the rebound could reach the middle of the sideways range at 1560–1561. Immediate support and resistance levels are identified at 1548 and 1553, respectively.

(News Source: The Star; Reuters)

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Market Mover
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