FKLI
FKLI Spot Month Futures - 5 Mar 2025
Wed, 05-Mar-2025 08:26 am
by Dealing Team • Apex Futures

FKLI
Pivot
1538
Resistance
1531 / 1537 / 1542
Support
1525 / 1520 / 1516
Possible Range
1515 to 1535
Strategy
Long positions may be opened above 1531 with targets at 1537/1542 and stop-loss at 1526
Short positions may be opened below 1531 with targets at 1525/1520 and stop-loss at 1536

FKLI Mar month dropped 16.5 points or 1.07% to closed lower at 1532. The FBM KLCI tumbled on Tuesday amid heavy selling pressure, as decliners outnumbered gainers by more than seven to one, highlighting weak market sentiment following the implementation of U.S. President Donald Trump’s tariffs.

Overnight Dow Jones index dropped 670 points to closed lower at 42520. U.S. stocks closed lower on Tuesday, with the tech-heavy Nasdaq nearing correction territory, as trade tensions intensified after U.S. President Donald Trump imposed new tariffs on Canada, Mexico, and China.

The actively traded FKLI contract extended its decline after breaking below the bottom of the sideways range at 1,538–1,540, which now serves as a crucial resistance level for any potential upside reversal. From a broader perspective, FKLI remains within a downward channel, keeping the "sell on rebound" strategy intact. If bearish sentiment persists, the index could move toward the 1,514–1,516 range, which aligns with the support line of the downward channel. cautious of potential sentiment changes. Immediate support and resistance levels are identified at 1525 and 1531, respectively.

(News Source: The Star; Reuters)

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