FKLI
FKLI Spot Month Futures - 19 Feb 2025
Wed, 19-Feb-2025 08:36 am
by Dealing Team • Apex Futures

FKLI
Pivot
1583
Resistance
1583 / 1588 / 1592
Support
1579 / 1575 / 1570
Possible Range
1575 to 1595
Strategy
Long positions may be opened above 1583 with targets at 1588/1592 and stop-loss at 1578
Short positions may be opened below 1583 with targets at 1579/1575 and stop-loss at 1588

FKLI Feb month dropped 3.5 point or 0.22% to closed lower at 1582.5. The FBM KLCI rebounded to close higher, while glovemakers led the list of top losers on Bursa Malaysia, with Hartalega Holdings Bhd recording the steepest decline.

Overnight Dow Jones index rose 10 to closed slightly higher at 44556. Global equity markets climbed on Tuesday, with the S&P 500 and European shares reaching record highs as investors assessed strong U.S. earnings, trade tariffs, and a significant increase in European defense spending. The benchmark S&P 500 edged past its previous record close in a holiday-shortened week, while all three major Wall Street indexes fluctuated between gains and losses before rallying in the final minutes.

The actively traded FKLI contract remains in a downward channel consolidation on the daily timeframe, currently trading near the middle of the range. The index previously rebounded to 1604–1605 but faced resistance, limiting further upside. On the hourly chart, it is trading near the upper boundary of the sideways consolidation range. In the short term, the primary strategy is to sell on rebounds, with crucial support expected at 1577–1575. If this level holds, buying opportunities may emerge, allowing the index to continue its recent uptrend. However, if support fails, further downside could follow. Stay cautious of potential sentiment changes. Immediate support and resistance levels are identified at 1579 and 1583, respectively.

(News Source: The Star; Reuters)

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Market Mover
Settlement Rates
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USD 4.352538 4.386792
EUR 5.042978 5.047979
CNY 0.599099 0.599744
HKD 0.561079 0.565009
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