FKLI
FKLI Spot Month Futures (PM) - 27 Feb 2025
Thu, 27-Feb-2025 02:27 pm
by Dealing Team • Apex Futures

FKLI
Pivot
1587
Resistance
1589 / 1592 / 1596
Support
1585 / 1580 / 1576
Possible Range
1580 to 1600
Strategy
Long positions may be opened above 1585 with targets at 1589/1592 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 3.5 points or 0.22% to closed lower at 1586 on midday session. The FBM KLCI stayed in negative territory at midday as investors continued profit-taking ahead of the corporate results deadline.

 

The actively traded FKLI contract continues to trade within a downward channel on the daily timeframe, pulling back after testing the resistance line at 1,590–1,592. Recent price action has broken above the previous resistance at 1,581–1,583, which now acts as a key support zone. Yesterday’s bullish engulfing candle indicates further upside potential. We maintain our primary strategy of buying on retracements, with crucial resistance at 1,590–1,592. A breakout above this level could extend gains toward 1,597–1,599. Stay cautious of potential shifts in market sentiment. Immediate support and resistance levels are identified at 1585 and 1589 respectively.

(News Source: The Star)

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