FKLI
FKLI Spot Month Futures - 10 Feb 2025
Mon, 10-Feb-2025 08:43 am
by Dealing Team • Apex Futures

FKLI
Pivot
1583
Resistance
1586 / 1590 / 1595
Support
1583 / 1579 / 1574
Possible Range
1575 to 1595
Strategy
Long positions may be opened above 1583 with targets at 1586/1590 and stop-loss at 1578
Short positions may be opened below 1583 with targets at 1579/1574 and stop-loss at 1588

FKLI Feb month rose 3 points or 0.19% to closed higher at 1586.5. The FBM KLCI continued its rally for a fourth consecutive session on Friday, driven by broader optimism and positive performances in global markets.

Overnight Dow Jones index dropped 444 to closed lower at 44303. All three major U.S. stock indexes ended lower on Friday following President Donald Trump's announcement of plans to impose reciprocal tariffs on numerous countries next week. While Trump did not specify the targeted countries, he indicated it would be a broad initiative aimed at addressing U.S. budget issues. The decline was further pressured by weak jobs data and softer consumer sentiment.

The FKLI active contract on the daily chart has reached the key resistance zone of 1585 -1586, hovering in the area and forming a double top. The new support is observed at the 1582–1583 range. If this support fails to hold, further profit-taking could emerge. However, if the support holds, buying may resume, targeting the major resistance level. A breakout above 1586 could spark strong buying momentum, potentially driving the price toward the 1595–1600 range. Beware of any sentiment changes. Immediate support and resistance levels are identified at 1583 and 1586, 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