FKLI
FKLI Spot Month Futures - 6 Feb 2025
Thu, 06-Feb-2025 08:37 am
by Dealing Team • Apex Futures

FKLI
Pivot
1569
Resistance
1574 / 1577 / 1582
Support
1569 / 1564 / 1559
Possible Range
1565 to 1585
Strategy
Long positions may be opened above 1569 with targets at 1574/1577 and stop-loss at 1564
Short positions may be opened below 1569 with targets at 1564/1559 and stop-loss at 1574

FKLI Feb month rose 10 points or 0.64% to closed higher at 1573.5. The FBM KLCI ended higher on Wednesday, extending its upward momentum as continued bargain hunting bolstered investor confidence.

Overnight Dow Jones index rose 317 to closed higher at 44873. U.S. stocks closed a volatile session with gains on Wednesday, while benchmark Treasury yields declined, as disappointing earnings and mixed economic data offset fading concerns over an escalating global trade war.

The FKLI active contract is holding above the support line of the downward channel at 1553–1555 on the daily chart, signaling support within the broader trend. On the hourly chart, the price is trading above the midpoint of the sideways range at 1560–1562. A buy-on-retracement strategy is recommended for short-term trades, with potential upside targets around 1577–1576 and possibly reaching the top of the sideways range at 1582–1581. Key support is identified at 1569–1568; if this level fails to hold, it may trigger selling pressure. Beware of any sentiment changes. Immediate support and resistance levels are identified at 1569 and 1574, 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