FKLI
FKLI Spot Month Futures - 22 Apr 2025
Tue, 22-Apr-2025 08:43 am
by Dealing Team • Apex Futures

FKLI
Pivot
1492
Resistance
1488 / 1497 / 1505
Support
1478 / 1470 / 1462
Possible Range
1460 to 1490
Strategy
Long positions may be opened above 1483 with targets at 1488/1497 and stop-loss at 1477
Short positions may be opened below 1483 with targets at 1478/1470 and stop-loss at 1489

FKLI Apr month dropped 7 points or 0.47% to closed lower at 1490. The FBM KLCI ended flat on Monday as investors remained cautious amid external uncertainties, while the ringgit strengthened to its highest level in approximately 12 weeks against the US dollar.

Overnight Dow Jones slides more than 950 to closed lower at 38170. U.S. stocks posted sharp losses on Monday after President Donald Trump intensified his criticism of Federal Reserve Chair Jerome Powell, raising concerns over the Fed’s independence amid ongoing market unease surrounding the administration’s unpredictable trade policies.

The actively traded FKLI contract remains within a downward channel on the daily chart, while the index is currently showing upward movement. Crucial support is seen in the 1473–1470 range. Today's movement is likely to be bearish, tracking the sharp drop in the overnight U.S. market. If the support holds, the index may move toward an upside bias, though potential gains are expected to be limited. However, if the support is broken, further downside toward the 1460–1463 range could be seen. Stay cautious of potential sentiment changes. Immediate support and resistance levels are identified at 1478 and 1488, respectively.

(News Source: The Star; Reuters)

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Market Mover
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