LOCAL MARKET
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FKLI
FKLI Oct month was down 2 points to closed at 1624.5. The FBM KLCI was uncertain yet supportive in the previous session.
The Dow Jones index rose 74 points to close at 46987 on previous session. The Nasdaq closed lower but the S&P 500 and the Dow eked out late-session gains on Friday as investors turned the page on a roller-coaster week with economic worries, the longest-ever federal government shutdown, and sky-high tech stock valuations dampening risk appetite.
The actively traded FKLI contract regained its support holding on above 1617 throughout the day to close near intraday high. The upside target may possibly extend above 1630 if the index intends to hold above 1620. However, if prices unable to hover above this level and breaks the 1617 which is the current immediate support now, a drawback to 1610-1605 may be seen. Beware of any potential sentiment changes. Immediate support and resistance levels are identified at 1617 and 1625, respectively.
(News Source: The Star; Reuters)
Recommend Trading Plan:
Long positions may be opened above 1620 with targets at 1625/1630 and stop-loss at 1616
Short positions may be opened below 1617 with targets at 1610/1605 and stop-loss at 1625
FCPO
FCPO Jan month down 39 points or 0.94% to closed at 4110. Malaysian palm oil futures remained uncertain closing near day low on last Friday as traders are anticipating for the MPOB data releasing on the 10th Nov 2025, today.
CBOT soyoil active traded contract rose 0.33 point to close at 49.68 on previous session. Dalian’s active palm oil contract down 46 points to closed lower at 8634 on previous night session.
The actively traded FCPO contract were still pressured to sell around 4120 level in the previous session. Intraday average highs were capped lower around 4120-4150 as market perceived data outcome is still bearish. With that, a potential sell-off to 4050-4000 is possible, unless the data released later on in the day shows otherwise. A total reversal to the upside can be quick to 4200 if data is not as bearish as expected since the market has already selling for weeks. Immediate support and resistant levels are identified at 4100 and 4130 respectively. Beware of any potential sentiment changes.
(News Source: Reuters)
Recommend Trading Plan:
Long positions may be opened above 4100 with targets at 4130/4150 stop-loss at 4080
Short positions may be opened below 4120 with targets at 4100/4150 stop-loss at 4135
Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters, Nasdaq.com, Bloomberg, CNN, Market Watch, FT.com, the Star online, forbes.com, mining.com and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correction, completion and amendment without notice. As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of the investment.
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