FKLI
FKLI Spot Month Futures - 12 Feb 2025
Wed, 12-Feb-2025 08:34 am
by Dealing Team • Apex Futures

FKLI
Pivot
1587
Resistance
1592 / 1596 / 1600
Support
1587 / 1584 / 1580
Possible Range
1580 to 1600
Strategy
Long positions may be opened above 1592 with targets at 1596/1600 and stop-loss at 1587
Short positions may be opened below 1592 with targets at 1587/1584 and stop-loss at 1597

FKLI Feb month rose 4.5 points or 0.28% to closed higher at 1591. The FBMKLCI index eased as investors took a breather to lock in profits after recent gains, while the ringgit weakened against the US dollar on Monday following U.S. President Donald Trump's announcement of a 25% tariff on steel and aluminum imports.

Overnight Dow Jones index rose 123 to closed higher at 44593. Wall Street's main indexes closed mixed on Tuesday, as gains in Coca-Cola and Apple balanced losses in Tesla, while investors assessed Federal Reserve Chair Jerome Powell's latest remarks.

The actively traded FKLI contract remains above the previous resistance zone of 1,585–1,587, now a key support range, indicating an upward bias with buy-on-retracement as the main strategy. On the hourly chart, the index is forming an upward channel and trending higher. Resistance is seen at 1,592–1,593, with a breakout potentially pushing prices toward 1,599–1,600, while failure to break could trigger selling pressure. Immediate support and resistance levels are identified at 1587 and 1592, respectively.

(News Source: The Star; Reuters)

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Market Mover
Settlement Rates
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EUR 4.632284 4.636049
CNY 0.579684 0.580150
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