FKLI
FKLI Spot Month Futures -5 May 2025
Mon, 05-May-2025 08:49 am
by Dealing Team • Apex Futures

FKLI
Pivot
1538
Resistance
1545 / 1553 / 1560
Support
1538 / 1531 / 1524
Possible Range
1525 to 1560
Strategy
Long positions may be opened above 1538 with targets at 1545/1553 and stop-loss at 1532
Short positions may be opened below 1538 with targets at 1531/1524 and stop-loss at 1544

FKLI May month rose 11.5 points or0.75% to closed higher at 1531. The FBM KLCI trimmed earlier losses on Friday session, as hopes of potential US-China trade talks helped cushion local profit-taking pressures.

Overnight Dow Jones rose 564 points to closed higher at 41317. Wall Street and European markets rallied on Friday, boosted by a strong U.S. jobs report and signs that China may be open to tariff talks. All three major U.S. indexes gained over 1%, led by strong performances in financials, transportation, and semiconductor stocks. Treasury yields also surged as investor confidence improved.

The actively traded FKLI contract continues to show upward momentum, despite remaining within a broader downward channel on the daily chart. Key support is identified at the 1528–1532 zone. The index is forming a minor uptrend, and we maintain our view to adopt a buy-on-retracement strategy. Immediate support lies at the 1538–1534 range; holding above this level would keep the bullish outlook intact. However, if this support fails, a technical correction may follow, though the downside appears limited as overall structure remains supported. Immediate support and resistance levels are identified at 1538 and 1545, respectively.

 

(News Source: The Star; Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.061877 4.094367
EUR 4.778623 4.788197
CNY 0.579532 0.580122
HKD 0.522115 0.526303
SGD 3.147144 3.172563