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FKLI
FKLI Nov month rose 4 points or 0.25 to closed at 1626.5. Bursa Malaysia continued to see selling pressure as the profit-taking on Wall Street came underway on fears equity valuations are overstretched.
The Dow Jones index dropped 398 points to close at 46912 on previous sessionU.S. stocks closed in negative territory on Thursday, with a resumption of Tuesday's tech selloff as investors contended with mounting economic uncertainty and stretched valuations. All three major U.S. equity indexes lost ground as risk appetite was dampened by worries over inflated stock prices, particularly from artificial intelligence-related momentum shares.
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 remain seen at 1626–1628 and bottom remain spot at 1600–1605. A breakout in either direction could trigger the next major move. For the short term, holding above the 1,618–1,616 range could maintain a buying bias. However, failure to hold this support zone may lead the index to further downside movement toward the 1,610 level. In Beware of any potential sentiment changes. Immediate support and resistance levels are identified at 1618 and 1623, respectively.
(News Source: The Star; Reuters)
Recommend Trading Plan:
Long positions may be opened above 1618 with targets at 1623/1627 and stop-loss at 1613
Short positions may be opened below 1618 with targets at 1615/1610 and stop-loss at 1623
FCPO
FCPO Jan month rose 41 points or 1% to closed at 4149Malaysian palm oil futures closed higher on Thursday after ending at a 17-week low in the previous session, supported by strength in Dalian's palm olein prices.
CBOT soyoil active traded contract dropped 0.34 points to close at 49.35 on previous session. Dalian’s active palm oil contract rose 20 points to closed at 8680 on previous night session.
The actively traded FCPO contract closed on a positive note in the previous session, supported by technical buying. However, the overall sentiment remains bearish, as the daily chart continues to trade below the immediate resistance zone of 4,150–4,160. We maintain our view that technical buying momentum may persist if the price successfully breaks above this resistance range, potentially extending toward 4,176. Conversely, if the resistance zone holds firm, renewed selling pressure could emerge, keeping prices confined within a narrow consolidation range between 4,150–4,160, with immediate support seen around the 4,120 level. Immediate support and resistant levels are identified at 4128 and 4152 respectively. Beware of any potential sentiment changes.
(News Source: Reuters)
Recommend Trading Plan:
Long positions may be opened above 4128 with targets at 4152/4176 stop-loss at 4108
Short positions may be opened below 4128 with targets at 4101/4077 stop-loss at 4148
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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