FKLI
FKLI Spot Month Futures - 16 Jul 2025
Wed, 16-Jul-2025 09:16 am
by Dealing Team • Apex Futures

FKLI
Pivot
1527
Resistance
1528 / 1533 / 1538
Support
1520 / 1515 / 1509
Possible Range
1515 to 1535
Strategy
Long positions may be opened above 1524 with targets at 1528/1533 and stop-loss at 1519
Short positions may be opened below 1524 with targets at 1520/1515 and stop-loss at 1529

FKLI Jul month dropped 10 points or 0.65% to closed lower at 1523. The FBM KLCI was range-bound over the early morning session as investors awaited some resolution to the ongoing tariffs saga following the latest volley of threats by US President Donald Trump.

The Dow Jones index dropped 436 points to closed lower at 44023 on previous session. The Nasdaq Composite closed at a fresh record high on Tuesday, lifted by a strong rally in heavyweight Nvidia. However, other major Wall Street indices declined as a key inflation report and a wave of bank earnings failed to spark investor enthusiasm. This marks the Nasdaq's fourth record close in five sessions, and the eighth since June 27.

The actively traded FKLI contract continues to trend within a broader downward channel on the daily chart, with key resistance seen at the 1,560–1,565 zone. On the hourly chart, the index is showing a downward bias, suggesting continued weakness. If the immediate support zone at 1,520–1,522 fails to hold, further downside movement toward 1,515–1,512 is likely. However, if this support range remains intact, we may see some buying interest emerging, although the upside appears limited for now. Immediate resistance is identified at the 1,527–1,528 level. Beware of any potential sentiment changes. Immediate support and resistance levels are identified at 1520 and 1528, respectively.

(News Source: The Star; Reuters)

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Market Mover
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