FKLI
FKLI Spot Month Futures - 28 Feb 2025
Fri, 28-Feb-2025 08:30 am
by Dealing Team • Apex Futures

FKLI
Pivot
1565
Resistance
1566 / 1570 / 1575
Support
1561 / 1557 / 1553
Possible Range
1560 to 1580
Strategy
Long positions may be opened above 1561 with targets at 1566/1570 and stop-loss at 1556
Short positions may be opened below 1561 with targets at 1557/1553 and stop-loss at 1566

FKLI Mar month dropped 4 points or 0.26% to closed lower at 1564. The FBM KLCI closed lower on Thursday as investors took profits following the previous session’s rally.

Overnight Dow Jones index dropped 193 points to closed lower at 43239. The S&P 500 and Nasdaq closed significantly lower on Thursday, dragged down by a sharp decline in chipmaker Nvidia after its quarterly report failed to reignite Wall Street's AI-driven rally. Meanwhile, investors turned their attention to data signaling a slowdown in the U.S. economy.

The FKLI contract has rolled over to March 2025. In the broader view, the daily chart shows FKLI remains within a downward channel consolidation. After reaching a high of 1,592—near the channel’s resistance line—the index has been trending lower. Meanwhile, the hourly chart indicates that the new contract is trading above the support zone at 1,560 to 1,563. With an uptrend forming since early February, there is a higher probability of further upside if this support holds, potentially offering buying opportunities toward the 1,570 to 1,572 range. However, if the support fails, the index may extend its decline. Stay cautious of potential sentiment changes. Immediate support and resistance levels are identified at 1561 and 1566, respectively.

(News Source: The Star; Reuters)

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