31 Dec 2024 BMD Local Market

LOCAL MARKET 

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FKLI

FKLI Jan month rose 13 point or 0.80% to closed higher 1639. The FBM KLCI closed the penultimate trading day of the year on a positive note, rebounding from a weak start as buying momentum in selected heavyweights, including Maybank and Petronas Chemicals, gained traction amid year-end window dressing by local institutions.

Overnight Dow Jones dropped 418 points to closed lower at 42573. Wall Street ended Monday in negative territory, with light trading marking the start of a holiday-shortened week and the second-to-last session of a year where all three major indexes achieved strong double-digit gains. Risk-off sentiment, driven by end-of-year tax positioning, elevated valuations, rising Treasury yields, and 2025 uncertainties, kept markets subdued. While the indexes recovered from early lows, they still closed down over 0.5%.

The active traded FKLI contract turn to Jan25 month from today. The index sees some pull back on yesterday session after reaching the resistant range at 1638 to 1639, which is the top of a wide range of sideway consolidation. We anticipate the technical correction for coming session, with the support spot at 1633 to 1634, if break below, we might see further lower, if supported, the index may go higher toward the resistant range again. Immediate support and resistance levels are identified at 1634 and 1638, respectively.

(News Source: The Star; Reuters)

Recommend Trading Plan:

Long positions may be opened above 1634 with targets at 1638/1642 and stop-loss at 1629

Short positions may be opened below 1634 with targets at 1629/1625 and stop-loss at 1639

FCPO

FCPO Mar month contract dropped 73 points or 1.58% to closed lower at 4551. Malaysian crude palm oil futures continued to decline on Monday, tracking losses in rival soyoils on the Dalian market, as traders awaited fresh catalysts amid the holiday season.

Overnight Soybean oil Mar Month rose 0.30 to close higher at 40.30. Dalian’s active palm oil contract dropped 86 points to close lower at 8678 on previous night session.

Tracking the mixed performance in rival oil market, the palm price likely to trade within a range. In daily chart, the palm price fails to break beyond the crucial resistant range at 4645 to 4650 and turn to sell in previous session, latest the price trading below 4600. We anticipate the palm price to continue in downside bias, current formation more favorable to sell on rebound, support see at 4500 to 4495, if breaking below we might see further lower toward 4470 to 4465. The immediate support and resistance levels are pinpointed at 4501 and 4530, respectively.

(News Source: Reuters)

Recommend Trading Plan:

Long positions may be opened above 4530 with targets 4552/4574 at stop-loss at 4510

Short positions may be opened below 4530 with targets at 4501/4479 stop-loss at 4550

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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30 Dec 2024 BMD Local Market

LOCAL MARKET 

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FKLI

FKLI Dec month rose 19.5 point or 1.21% to closed higher 1624.5. The FBM KLCI ended 0.9% higher on Friday, driven by selective blue-chip gains as year-end window dressing provided a boost.

Overnight Dow Jones dropped 333 points to closed lower at 42992. U.S. stocks ended Christmas week on Friday by pulling back from their double-digit uptrends, while the dollar also saw modest declines. Both markets faced profit-taking in thin trading as they headed into the final weekend of 2024.

The FKLI index on last week broke up from the resistant line of downward channel and trading further higher, the index received support above the range of 1613 to 1614. Today we might see some technical correction to take place, but downside could be limited. Support sees at 1617 to 1619 range, if the index sustains at the range, trader may consider buying, if fail to sustain we might see lowest at 1614 to 1613. Immediate support and resistance levels are identified at 1619 and 1625, respectively.

(News Source: The Star; Reuters)

Recommend Trading Plan:

Long positions may be opened above 1625 with targets at 1630/1634 and stop-loss at 1620

Short positions may be opened below 1625 with targets at 1619/1614 and stop-loss at 1630

FCPO

FCPO Mar month contract rose 81 points or 1.78% to closed higher at 4624. Malaysian crude palm oil futures climbed on Friday, supported by bargain hunting and stronger performance in competing edible oils, although gains were limited by weaker export estimates.

Overnight Soybean oil Mar Month rose 0.12 to close higher at 40.00. Dalian’s active palm oil contract rose 10 points to close slightly higher at 8784 on previous night session.

Tracking the mixed performance in rival oil market, the palm price likely to trade within a range. In daily chart, the palm price trading in upward momentum for consecutive 4 days, forming an upward channel pattern, we see more room for further upside, hence buy on retracement remain the main plan. Crucial resistant range see at 4645 to 4650, breaking above could see further higher. The immediate support and resistance levels are pinpointed at 4596 and 4529, respectively.

(News Source: Reuters)

Recommend Trading Plan:

Long positions may be opened above 4596 with targets 4629/4650 at stop-loss at 4576

Short positions may be opened below 4596 with targets at 4571/4546 stop-loss at 4616

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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27 Dec 2024 Global Index Futures

 Crude, Gold, Dow, S&P 500 and Nasdaq

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E-Mini Dow

The Dow Jones Industrial Average recovered from earlier losses to post a slight gain on Thursday, amid thin trading following strong back-to-back rallies earlier in the holiday week.

Despite subdued trading this week, investors remain optimistic for a year-end boost, driven by the "Santa Claus rally"—a market trend where stocks typically rise during the final five trading days of December and the first two days of January.

(News Source: CNBC)

Plan A: Sell below 43, 670, target  around 43, 580/ 43, 500

Plan B: Long above 43, 480, Target around 43, 560/43, 630

E-Mini S&P500

U.S. stock index futures dipped on Thursday amid light post-Christmas trading, as investors reviewed their portfolios and anticipated a potential year-end boost from the "Santa Claus rally," according to Reuters.

Wall Street remained steady despite the latest economic data. Recurring applications for U.S. unemployment benefits climbed to their highest level in over three years, indicating longer job searches for the unemployed. Meanwhile, initial claims edged down to 219,000 for the week ending Dec 21.

(News Source: MSN, Bloomberg)

Plan A: Short if prices go below 6100, target around 6088/6070

Plan B: Long if prices are well supported above 6062, target around 6076/6091

E-Mini Nasdaq

Wall Street stocks headed lower on Thursday and U.S. benchmark Treasury yields scaled the highest level since April in light, post-Christmas trading.

The Nasdaq Composite dropped 18.10 points, or 0.09%, to 20,013.03.

The modest but broad-based sell-off pulled all three major U.S. stock indexes modestly lower despite the so-called Santa Claus rally, in which stocks often get a holiday season boost from low liquidity, tax loss harvesting and investment of year-end bonuses.

With only a handful of trading days remaining in the year, the Nasdaq, S&P 500 and the Dow have scored respective gains of 33%, 26% and 14% in 2024.

The major concerns for 2025 are the extent of the Federal Reserve's monetary easing, Trump's tariffs and other policies, and various geopolitical tensions.

On the economic front, new claims for unemployment benefits came in slightly below analysts' estimates, while ongoing claims jumped to their largest number since November 2021, suggesting laid off workers are having increasing difficulty finding new jobs.

(News Source: Reuters)

Plan A: Short if prices failed to support above 21,870. Targets are 21,706/21,344. Place a reasonable stop order based on the assessment of the risk and reward ratio.

Plan B: Consider long if market supported above 21,509. Targets are 21,706/21,921. Place a reasonable stop order based on the assessment of the risk and reward ratio.

WTI Crude Oil

Early Asian trade saw a little decline in oil prices as the market awaited new signals. Samer Hasn, senior market analyst at XS.com, says investors are hopeful about the resurgence in demand from China and that the country's favorable policies would start to solidify next year. But according to the expert, one of the main worries of investors for the upcoming year is the possible trade war between the United States and China, which might exacerbate the losses in crude oil. According to him, the current holiday season may lessen the downward pressure on petroleum prices to some extent. Brent is down 0.1% at $73.18 a barrel, while front-month WTI crude oil is down 0.1% at $69.58 a barrel.

(News Source: Dow Jones Newswire)

Plan A: Long if prices supported around 69.90. Targets are 70.50/71.45.

Plan B: Consider short if market breakout below 68.50. Targets are 67.45/66.57.

Gold

Gold prices remained in a tight range on Friday after reaching a one-week high in the previous session, supported by safe-haven demand amid geopolitical tensions. The metal is on track for a modest weekly gain.

However, momentum was dampened by a stronger dollar following Donald Trump's presidential victory and the Federal Reserve's signal of fewer rate cuts in 2025.

“The Fed’s decision shook market confidence in the expected number of cuts next year, acting as a headwind for gold,” said Rodda.

Markets are now bracing for significant policy changes in 2025, including tariffs, deregulation, and tax reforms, as Trump prepares to return to the White House in January.

(News Source: MSN)

Plan A: Consider long if market supported above 2645, Targets at 2655/2661.

Plan B: Short if market prices rebounded but failed to support above 2660. Targets are 2649/2634.

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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27 Dec 2024 Global Index Futures - Hang Seng

HONG KONG STOCK INDEX (HSI)

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Hang Seng

Hong Kong stocks rose, driving the benchmark above the 20,000 level, as buying from mainland investors lifted sentiment.

The Hang Seng Index gained 1.08 per cent to 20,098.29, poised to close above the psychological threshold for the first time since December 12. The Hang Seng Tech Index advanced 0.9 per cent.

(News Source: Bignewsnetwork)

Plan A: Long if market retraced but supported firm above 19,935. Targets are 20,097/20,300. Take reasonable stop loss for each trade. 

Plan B: Short if market failed to support above 19,935. Targets are 19,779/19,634. Take reasonable stop loss for each trade. 

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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27 Dec 2024 BMD Local Market

LOCAL MARKET 

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FKLI

FKLI Dec month rose 8.5 point or 0.53% to closed higher 1605. The FBM KLCI continued its upward momentum from the Santa Claus rally, with the FBM KLCI marking its fourth consecutive session of gains. The Santa Claus rally is a market phenomenon where stock prices typically increase during the final week of December, often extending into the new year.

Overnight Dow Jones rose 28 points to closed higher at 43325. The Dow edged higher on Thursday, marking a five-session winning streak despite light volumes and pressure from rising U.S. Treasury yields on tech megacaps. Meanwhile, the Nasdaq and S&P 500 dipped slightly, snapping the Nasdaq's four-session and the S&P's three-session streaks of gains

The FKLI broken up from the resistant range of downward channel at 1604 to 1603, now serve as support line, we anticipate the index will continue to trading above the support range for coming session, with buy on retracement could consider as main plan. Resistant see at 1609 to 1608, breaking above this line could see further higher, otherwise the index could face seme selling pressure at the resistant range. Beware of any sentiment changes. Immediate support and resistance levels are identified at 1604 and 1608, respectively.

(News Source: The Star; Reuters)

Recommend Trading Plan:

Long positions may be opened above 1604 with targets at 1608/1612 and stop-loss at 1599

Short positions may be opened below 1604 with targets at 1600/1597 and stop-loss at 1609

FCPO

FCPO Mar month contract dropped 15 points or 0.33% to closed lower at 4543. Malaysian crude palm oil futures declined on Thursday following the Christmas break, pressured by significant selling activity and weakness in Dalian palm olein prices.

Overnight Soybean oil Mar Month dropped 0.42 to close lower at 39.88. Dalian’s active palm oil contract rose 32 points to close higher at 8736 on previous night session.

Tracking the mixed performance in rival oil market, the palm price likely to trade within a range. In daily chart, the palm price trading below 4600 for a week since the strong sell down on 18 Dec, now serve as immediate resistant range if the price wants to continue go higher. Latest movement see the price remain trading in the sideway consolidation in hourly chart, top range see at 4560 to 4570, while bottom range at 4500 to 4510, breaking ether side could move toward the direction. In sideway movement, if trading above the middle 4530 to 4525, trader may look for buy, if trading below, will favorable for sell. The immediate support and resistance levels are pinpointed at 4529 and 4560, respectively.

(News Source: Reuters)

Recommend Trading Plan:

Long positions may be opened above 4529 with targets 4560/4586 at stop-loss at 4509

Short positions may be opened below 4529 with targets at 4506/4485 stop-loss at 4549

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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