FKLI
FKLI Spot Month Futures - 9 Apr 2025
Wed, 09-Apr-2025 08:48 am
by Dealing Team • Apex Futures

FKLI
Pivot
1441
Resistance
1428 / 1438 / 1447
Support
1421 / 1414 / 1406
Possible Range
1400 to 1440
Strategy
Long positions may be opened above 1428 with targets at 1438/1447 and stop-loss at 1422
Short positions may be opened below 1428 with targets at 1421/1414 and stop-loss at 1434

FKLI Apr month rose 6.5 points or 0.45% to closed higher at 1439. The FBM KLCI saw a brief rebound on Tuesday but ended lower, diverging from regional markets. This follows Monday’s sharp selloff, which dragged the index to a 16-month low amid heavy selling pressure.

Overnight Dow Jones index dropped 320 points to closed lower at 37645. The S&P 500 tumbled on Tuesday, closing below 5,000 points for the first time in nearly a year after erasing a strong morning rally. Investor optimism faded as hopes for U.S. tariff delays or concessions ahead of the midnight deadline diminished.

The actively traded FKLI contract remains within a downward channel, currently hovering above the support line at 1415–1410. On the hourly chart, a sideways consolidation pattern has formed following the sharp decline on April 7. Given the bearish sentiment in regional markets, we maintain a sell-on-rebound approach as our primary strategy. A break below the 1425–1427 support could lead to further downside, likely retesting the previous low at 1410–1405. However, if this support holds, there may be buying opportunities with limited upside. Stay cautious of potential sentiment changes. Immediate support and resistance levels are identified at 1421 and 1428, respectively.

(News Source: The Star; Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 3.949404 3.981238
EUR 4.633763 4.638745
CNY 0.579561 0.580180
HKD 0.504449 0.508017
SGD 3.094283 3.116286