LOCAL MARKET
Click here to contact us: https://goo.gl/B6Dccf
FKLI
FKLI Nov month rose 2 points or 0.12 to closed at 1622.5. Profit-taking activities dragged the local market lower on Wednesday, in line with cautious sentiment across the region ahead of Bank Negara’s overnight policy rate (OPR) decision.
The Dow Jones index rose 225 points to close at 47311 on previous session. U.S. stocks rebounded on Wednesday as jitters over inflated tech stock valuations abated and upbeat earnings and better-than-expected economic data fueled investors' risk appetite.A broad rally sent all three major U.S. equity indexes higher on the day, with a bounce-back in tech and tech-related momentum stocks leading the charge.
The actively traded FKLI contract continues to move within an upward channel on the daily chart, indicating that the long-term trend remains positive. However, on the hourly chart, the index has been trading within a sideways range since early October 2026, with crucial resistance seen at 1626–1628 and bottom remain spot at 1600–1605. A breakout in either direction could trigger the next major move. Beware of any potential sentiment changes. Immediate support and resistance levels are identified at 1626 and 1630, respectively.
(News Source: The Star; Reuters)
Recommend Trading Plan:
Long positions may be opened above 1630 with targets at 1634/1638 and stop-loss at 1625
Short positions may be opened below 1630 with targets at 1626/1623 and stop-loss at 1635
FCPO
FCPO Jan month dropped 35 points or 0.84% to closed at 4108. Malaysian palm oil futures closed lower on Wednesday, the lowest level in 17 weeks, weighed down by rival oils at Dalian exchange and high October end-stocks, while the market awaited fresh monthly data.
CBOT soyoil active traded contract rose 0.16 points to close at 49.69 on previous session. Dalian’s active palm oil contract rose 12 points to closed at 8630 on previous night session.
The actively traded FCPO contract closed slightly higher, supported by technical buying. However, overall sentiment remains bearish as the daily chart continues to trade below the immediate resistance zone at 4150–4160. In the shorter time frame, technical buying momentum may persist if the price successfully breaks above the 4150–4160 resistance range, potentially extending toward 4175. On the other hand, if the resistance zone remains firm, renewed selling pressure could emerge from the range, leading prices to continue consolidating within a narrow band of 4150–4160, with a lower support level seen near 4100. Immediate support and resistant levels are identified at 4106 and 4130 respectively. Beware of any potential sentiment changes.
(News Source: Reuters)
Recommend Trading Plan:
Long positions may be opened above 4130 with targets at 4156/4175 stop-loss at 4110
Short positions may be opened below 4130 with targets at 4106/4082 stop-loss at 4150
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.
0 comments:
Post a Comment