FKLI
FKLI Spot Month Futures - 18 Feb 2025
Tue, 18-Feb-2025 08:36 am
by Dealing Team • Apex Futures

FKLI
Pivot
1588
Resistance
1588 / 1592 / 1596
Support
1584 / 1579 / 1575
Possible Range
1580 to 1600
Strategy
Long positions may be opened above 1584 with targets at 1588/1592 and stop-loss at 1579
Short positions may be opened below 1584 with targets at 1579/1575 and stop-loss at 1589

FKLI Feb month dropped 6.5 point or 0.41% to closed lower at 1586. The FBM KLCI closed lower on Monday, diverging from the gains in other regional indices, as more than 700 stocks finished in the red.

The Dow Jones Index cash market was closed yesterday for President’s Day and will resume trading tonight. U.S. stock futures rose Monday night, starting a holiday-shortened trading week on a positive note. A significant portion of last week’s gains came on Thursday after President Donald Trump’s proposal for reciprocal tariffs on countries imposing levies on U.S. goods reassured investors who had feared stricter measures.

The actively traded FKLI contract recently faced resistance at the 1604–1605 range and is trading with a downside bias. On the daily timeframe, after forming a double bottom at 1535–1536, the index entered a sideways consolidation phase, with the upper boundary at 1580–1585 now serving as a key support level for further upside. If this support holds, the index could see upward movement, trading above 1590 and potentially retesting the 1600 range. However, if the support fails, further correction toward 1577–1575 is likely. Stay cautious of potential sentiment changes. Immediate support and resistance levels are identified at 1584 and 1588, respectively.

(News Source: The Star; Reuters)

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Market Mover
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