FKLI
FKLI Spot Month Futures - 5 Feb 2025
Wed, 05-Feb-2025 08:36 am
by Dealing Team • Apex Futures

FKLI
Pivot
1559
Resistance
1568 / 1573 / 1577
Support
1559 / 1554 / 1550
Possible Range
1555 to 1575
Strategy
Long positions may be opened above 1563 with targets at 1568/1573 and stop-loss at 1558
Short positions may be opened below 1563 with targets at 1559/1554 and stop-loss at 1568

FKLI Feb month rose 10 points or 0.64% to closed higher at 1563.5. The FBM KLCI closed higher on Tuesday as traders shifted their focus to bargain hunting, shrugging off concerns over tariffs.

Overnight Dow Jones index rose 134 to closed higher at 44556. The three major stock indexes closed higher on Tuesday, lifted by energy stocks and optimism over a potential U.S.-China trade breakthrough after President Trump delayed tariffs on Canada and Mexico. Meanwhile, new U.S. tariffs on Chinese imports took effect, met with Chinese countermeasures, though no timeline for further talks was set, with Trump expressing no urgency.

The FKLI active contract is holding above the support line of the downward channel at 1553-1555 on the daily chart, indicating support in the broader trend. On the hourly chart, it is trading above the midpoint of the sideways range at 1560-1562. We recommend a buy-on-retracement strategy for short-term trades, with potential upside toward 1670-1673. However, if the index fails to hold above the midpoint, consider switching to a selling strategy, as it may signal further downside. Beware of any sentiment changes. Immediate support and resistance levels are identified at 1559 and 1568, 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