FKLI
FKLI Spot Month Futures - 24 Feb 2025
Mon, 24-Feb-2025 08:40 am
by Dealing Team • Apex Futures

FKLI
Pivot
1586
Resistance
1591 / 1596 / 1601
Support
1586 / 1581 / 1577
Possible Range
1580 to 1600
Strategy
Long positions may be opened above 1581 with targets at 1586/1591 and stop-loss at 1576
Short positions may be opened below 1581 with targets at 1577/1573 and stop-loss at 1586

FKLI Feb month rose 11.5 point or 0.73% to closed higher at 1589.5. The FBM KLCI rebound gained momentum on Friday, driven by strong gains in PETRONAS Dagangan, which led the market higher.

Overnight Dow Jones index dropped 748 points to closed lower at 43428. Stocks closed lower on Wall Street but edged higher in Europe on Friday as investors navigated uncertainty over U.S. President Donald Trump's swift policy moves, including spending cuts and tariffs, along with Germany's upcoming elections. Meanwhile, oil prices dropped over 2%, and gold retreated from record highs.

The actively traded FKLI contract formed a higher low in last week's trading, suggesting an attempt to move within an upward channel. The price recently corrected to the 1573–1571 range, with further upside movement likely, provided it holds above a key support zone. We anticipate a lower opening today, tracking the sharp overnight decline in the U.S. market. Crucial support is seen at the 1581–1579 range—holding this level could present a buying opportunity, while a breakdown below it may trigger further selling pressure. Stay cautious of potential sentiment changes. Immediate support and resistance levels are identified at 1586 and 1591, respectively.

(News Source: The Star; Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.352538 4.386792
EUR 5.042978 5.047979
CNY 0.599099 0.599744
HKD 0.561079 0.565009
SGD 3.342280 3.365777