FKLI
FKLI Spot Month Futures - 27 Feb 2025
Thu, 27-Feb-2025 08:31 am
by Dealing Team • Apex Futures

FKLI
Pivot
1583
Resistance
1590 / 1594 / 1599
Support
1585 / 1580 / 1575
Possible Range
1580 to 1600
Strategy
Long positions may be opened above 1585 with targets at 1590/1594 and stop-loss at 1580
Short positions may be opened below 1585 with targets at 1580/1575 and stop-loss at 1590

FKLI Feb month jumped 19 points or 1.21% to closed higher at 1589.5. The FBM KLCI rebounded following Tuesday’s sell-off, supported by buying interest in banking and Petronas-linked stocks.

Overnight Dow Jones index dropped 188 points to closed lower at 43433. U.S. stocks ended mixed on Wednesday amid renewed tariff threats, while a draft U.S.-Ukraine deal on critical minerals and strong corporate earnings propelled European shares to a record high.

The actively traded FKLI contract remains within a downward channel on the daily timeframe, currently hovering around the resistance line at 1,590–1,592, with signs of a pullback. Recent price action has broken above the previous resistance at 1,581–1,583, which now serves as a key support range. Yesterday’s bullish engulfing candle signals further upside potential. Our primary strategy is to buy on retracements, while resistance remains at 1,590–1,592. A breakout above this range could extend gains toward 1,597–1,599.  Stay cautious of potential sentiment changes. Immediate support and resistance levels are identified at 1585 and 1590, 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