FKLI
FKLI Spot Month Futures - 25 Feb 2025
Tue, 25-Feb-2025 08:37 am
by Dealing Team • Apex Futures

FKLI
Pivot
1584
Resistance
1585 / 1589 / 1593
Support
1580 / 1576 / 1572
Possible Range
1575 to 1595
Strategy
Long positions may be opened above 1585 with targets at 1589/1593 and stop-loss at 1580
Short positions may be opened below 1585 with targets at 1580/1576 and stop-loss at 1590

FKLI Feb month dropped 6.5 points or 0.41% to closed lower at 1583. The FBM KLCI closed lower after a lackluster trading session on Monday, mirroring the weak performance across most regional markets.

Overnight Dow Jones index rose 33 points to closed slightly higher at 43461. Wall Street faced difficulty gaining momentum on Monday, closing mixed after last week's decline, while German election results lifted German stocks and the euro. Investors remained focused on the upcoming midweek earnings report from artificial intelligence chip giant Nvidia.

The actively traded FKLI contract formed a higher low last week, suggesting an attempt to move within an upward channel, though it ultimately failed to do so. The index remains confined within a narrow range inside a broader downward channel on the daily chart. Resistance is seen at 1585–1586, and failure to break above this level could push the index lower. Our primary strategy remains selling on rebounds, with the index likely to continue its downward movement. A break below the 1578–1580 support zone could accelerate the decline, with the next support level seen at the 1570–1572 range. Stay cautious of potential sentiment changes. Immediate support and resistance levels are identified at 1586 and 1591, respectively.

(News Source: The Star; Reuters)

Read more details in:

Disclaimer

The report is for internal and private circulation only and shall not be reproduced either in part or otherwise without the prior written consent of Apex Securities Berhad. The opinions and information contained herein are based on available data believed to be reliable. It is not to be construed as an offer, invitation or solicitation to buy or sell the securities covered by this report.

Opinions, estimates and projections in this report constitute the current judgment of the author. They do not necessarily reflect the opinion of Apex Securities Berhad and are subject to change without notice. Apex Securities Berhad has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

Apex Securities Berhad does not warrant the accuracy of anything stated herein in any manner whatsoever and no reliance upon such statement by anyone shall give rise to any claim whatsoever against Apex Securities Berhad. Apex Securities Berhad may from time to time have an interest in the company mentioned by this report. This report may not be reproduced, copied or circulated without the prior written approval of Apex Securities Berhad.

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