31 Jan 2025 BMD Local Market

 LOCAL MARKET 

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FKLI

FKLI Feb month rose 3 points or 0.19 to close higher at 1553.5. The FBM KLCI experienced a small rebound but couldn't build on the momentum at Tuesday close, staying in the red as investor sentiment remained cautious amid continued market uncertainties.

Overnight Dow Jones rose 168 points to close higher at 44642. U.S. stocks closed higher on Thursday following a volatile session, as investors absorbed a range of important earnings reports. Positive comments from Tesla helped counterbalance a downbeat forecast from Microsoft.

The FKLI active traded contracts switch to Feb month from today onward. The FKLI in daily chart remain trading at the bottom of downward channel, the chart formation remain bearish. We see the resisted at 1553 to 1555 range, if breaking above there is potential of trading higher on technical buying however upside could be limited. Otherwise, the index could experience further selling pressure. Support range sees at 1545 to 1548. Immediate support and resistance levels are identified at 1549 and 1554, respectively.

(News Source: The star, Reuters)

Recommend Trading Plan:

Long positions may be opened above 1554 with targets at 1558/1562 and stop-loss at 1549

Short positions may be opened below 1554 with targets at 1549/1545 and stop-loss at 1559

FCPO

FCPO Feb month contract rose 61 points or 1.45% to close higher at 4279. Malaysian palm oil futures closed higher on Tuesday, recovering from earlier losses. However, the gains were limited by weak demand from major markets, uncertainty surrounding Indonesia's export rates, and a slight increase in domestic production.

Overnight Soybean oil Mar Month rose 0.01 to close slightly higher at 44.98. Dalian’s active palm oil contract rose 44 closed higher at 8324 on previous session. The China commodities market is closed for a week in observance of Chinese New Year, with trading set to resume on February 5.

The palm price remains hovering at the bottom area of the downward channel in daily chart, the bigger pictures remain bearish. While in hourly chart the price reaching the top of sideway consolidation at 4280 to 4285, after supported above the middle of the range at 4200 to 4205, while bottom see at 4130 to 4125. The palm price potentially trading further higher of breaking above the top of the sideway range, we reckon buy on retracement for short term trade. If the top range resisted, we might see the price continue trading within the sideway. Beware of any sentiment changes. The immediate support and resistance levels are pinpointed at 4252 and 4279, respectively.

(News Source: Reuters)

Recommend Trading Plan:

Long positions may be opened above 4252 with targets 4279/4305 at stop-loss at 4232

Short positions may be opened below 4252 with targets at 4228/4207 stop-loss at 4272

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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28 Jan 2025 BMD Local Market

LOCAL MARKET 

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FKLI

FKLI Jan month dropped 7 points or 0.45% to closed lower at 1552.5. The FBM KLCI ended at its intraday low on Monday, weighed down by YTL-related counters, as cautious investors remained on the sidelines, mirroring the trend across regional markets.

Overnight Dow Jones index rose 289 to closed higher at 44713. The Dow gained, while the Nasdaq saw its largest one-day percentage drop since December 18 on Monday, as the launch of a low-cost Chinese artificial intelligence model triggered a sharp selloff in U.S. chipmakers.

The FKLI in daily time frame resisted below 1561 to 1563 and trading further lower. We see the index hovering within the sideway range in short term time frame, top see at 1565 to 1564, while bottom adjusted to 1552 to 1551, the previous support 1558 to 1560 now serve as middle of the range, we likely to see rebound sell to continue. Crucial support sees at 1550 to 1551 to maintain the minor uptrend build since the 17 Jan. Immediate support and resistance levels are identified at 1557 and 1560, respectively.

(News Source: The Star)

Recommend Trading Plan:

Long positions may be opened above 1560 with targets at 1564/1568 and stop-loss at 1555

Short positions may be opened below 1560 with targets at 1557/1553 and stop-loss at 1565

FCPO

FCPO Apr month contract rose 2 points or 0.05% to closed almost flat at 4218. Malaysian crude palm oil futures closed unchanged on Monday, as a decline in the Chicago soyoil contract and lower export forecasts were balanced by anticipated production declines.

Overnight soybean oil for the March contract dropped 0.22 to closed lower at 45.22. Dalian’s active palm oil contract rose 44 closed higher at 8324 on previous session. The China commodities market is closed for a week in observance of Chinese New Year, with trading set to resume on February 5. 

The palm price remains hovering at the bottom area of the downward channel in daily chart, the bigger pictures remain bearish. While in hourly chart the price trading in very tight range on previous session, and remain within a sideway consolidation, top of the range at 4275 to 4280, while bottom at 4130 to 4125, trading above the middle of the range 4200 to 4205, could remain buy plan, otherwise, selling may persist. On the buy side, if breaking above 4250 range likely reaching the top of the sideway range. Beware of any sentiment changes. The immediate support and resistance levels are pinpointed at 4204 and 4225, respectively.

(News Source: Reuters)

Recommend Trading Plan:

Long positions may be opened above 4225 with targets 4251/4276 at stop-loss at 4205

Short positions may be opened below 4225 with targets at 4204/4180 stop-loss at 4245

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 January 2025 Global Index Futures

Crude, Gold, Dow, S&P 500 and Nasdaq

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E-Mini Dow

US benchmark equity indexes closed lower Friday as markets assessed the latest economic data, including a survey showing a drop in consumer sentiment and an increase in inflation expectations.

(News Source: MTNews)

Plan A: Sell if market failed to support above 44, 350. Targets around 44,112 /44, 025.

Plan B: Long only if market supported firm above 44,350. Targets around 44,584/44,765.

E-Mini S&P500

US stock futures dropped on Monday as investors prepared for a busy week of earnings reports from major companies.

Four of the seven firms in the "Magnificent 7" are set to release quarterly results, including Tesla, Meta Platforms, and Microsoft on Wednesday, followed by Apple on Thursday.

(News Source: Trading Economics)

Plan A: Short if prices failed to support above 6,060. Targets around 6,035/6,016.

Plan B: Long if prices well supported above 6,060. Targets around 6,098/6,119.

E-Mini Nasdaq

Wall Street's main indexes closed lower on Friday as investors stepped back while they digested a mixed bag of economic data and earnings reports and prepared for a week filled with economic releases and a Federal Reserve meeting.

(News Source: Reuters

Plan A: Short if prices resilient to 21,495. Targets are 21,293/21,028.  Place a reasonable stop order based on the assessment of the risk and reward ratio.

Plan B: Long only if market supported firm above 21,495. Targets are 21,698/21,952. Place a reasonable stop order based on the assessment of the risk and reward ratio.

WTI Crude Oil

Oil prices slipped on Monday after U.S. President Trump called on OPEC to reduce prices following the announcement of wide-ranging measures to boost U.S. oil and gas output in his first week in office.

(News Source: Reuters)

Plan A: Consider short if market failed to support above 74.08. Targets are 73.68/72.44.

Plan B: Long if prices supported firm above 74.08. Targets are 76.02/77.14.

Gold

Gold dipped on Monday pressured by a firmer dollar, while investors focussed on the Federal Reserve's first meeting of 2025 for more guidance on the U.S. interest rate path.

(News Source: Tradingeconomics)

Plan A: Consider long only if market supported firm above 2,761. Targets at 2,790/2,802.

Plan B: Short if market prices failed to support above 2,774. Targets are 2,760/2,754.

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 Jan 2025 BMD Local Market

LOCAL MARKET 

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FKLI

FKLI Jan month dropped 11.5 points or 0.73% to closed lower at 1559.5. The FBM KLCI closed lower on Friday as profit-taking activities continued for the second straight day, with investors adjusting their positions ahead of next week’s shortened trading schedule.

Overnight Dow Jones index dropped 140 to closed lower at 44424. Wall Street's major indexes ended lower on Friday as investors paused to assess a mix of economic data and earnings reports, while gearing up for a week packed with economic releases and a Federal Reserve meeting.

The FKLI in daily time frame resisted below 1570 to 1568 and trading further lower. We see the index hovering within the sideway range in short term time frame, top see at 1565 to 1564, while bottom at 1558 to 1559, breaking either side could move toward the direction, rebound sell remain the main strategy, crucial support see at 1550 to 1551 to maintain the minor uptrend build since the 17 Jan. Immediate support and resistance levels are identified at 1559 and 1564, respectively.

(News Source: Bernama, Reuters)

Recommend Trading Plan:

Long positions may be opened above 1559 with targets at 1564/1569 and stop-loss at 1554

Short positions may be opened below 1559 with targets at 1554/1550 and stop-loss at 1564

FCPO

FCPO Apr month contract rose 26 points or 0.62% to closed higher at 4216. Malaysian crude palm oil futures rebounded on Friday, closing higher and securing a slight weekly gain following data from the Malaysian Palm Oil Association that revealed a drop in production.

Overnight soybean oil for the March contract rose 0.18 to closed higher at 45.22. Dalian’s active palm oil contract rose 44 closed higher at 8324 on previous night session.

The palm price likely to remain hovering at the bottom area of the downward channel in daily chart, the bigger pictures remain bearish. While in hourly chart the price trading within a sideway consolidation, top of the range at 4275 to 4280, while bottom at 4130 to 4125, latest above the middle of the range 4200 to 4205, if the middle of the range remain supported, we might see further technical buying, otherwise, selling may persist. On the buy side, if breaking above 4250 range likely reaching the top of the sideway range. Beware of any sentiment changes. The immediate support and resistance levels are pinpointed at 4204 and 4230, respectively.

(News Source: Reuters)

Recommend Trading Plan:

Long positions may be opened above 4204 with targets 4230/4251 at stop-loss at 4184

Short positions may be opened below 4204 with targets at 4180/4154 stop-loss at 4224

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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24 January 2025 Global Index Futures

  Crude, Gold, Dow, S&P 500 and Nasdaq

Click here to contact us: https://goo.gl/B6Dccf 

E-Mini Dow

The Dow Jones advanced 408.34 points, or 0.92%, to 44,565.07, while the Nasdaq Composite rose 0.22% to 20,053.68. Thursday marked the fourth straight winning session for all three major indexes.

The stock market has gotten a boost this week from excitement about potential tax cuts and deregulation under Trump, as well as signs of resilient economic growth. While tariffs remain an overhang, investors have been pleased with the lack of formal action on these levies during Trump’s first days back in the White House.

(News Source: CNBC)

Plan A: Long only if market supported firm above 44,658. Targets around 44,784/45,165.

Plan B: Sell if market failed to support above 44,717. Targets around 44,658/44,412.

E-Mini S&P500

The S&P 500 rallied to record highs on Thursday after President Donald Trump called for lower interest rates and cheaper oil prices.

The broad market index added 0.53%, notching an all-time intraday high for the second straight session. The benchmark finished the day at 6,118.71, surpassing its prior all-time closing high of 6,090.27 recorded in early December.

The fourth-quarter earnings season is also off to a strong start, with Netflix and big banks offering positive reports. But Americans Airlines poured some cold water on that enthusiasm, with the stock tumbling more than 8% on Thursday after the company issued weak guidance.

(News Source: CNBC)

Plan A: Short if prices failed to support above 6,135. Targets around 6,105/6,046.

Plan B: Long if prices well supported above 6,135. Targets around 6,152/6,203.

E-Mini Nasdaq

Technology stocks underperformed on Thursday, dragging down the Nasdaq. The tech-heavy index slid 0.2% on Thursday, relinquishing some gains after jumping more than 1% in the prior session. By comparison, the S&P 500 ticked higher in Thursday’s session.

Electronic Art dropped more than 17% after slashing guidance, making it the worst performer in the concentrated Nasdaq 100. Arm Holdings and Micron Technology were also among the biggest losers, sliding more than 7% and 4%, respectively.

(News Source: CNBC)

Plan A: Short if prices resilient to 21,995. Targets are 21,893/21,568.  Place a reasonable stop order based on the assessment of the risk and reward ratio.

Plan B: Long only if market supported firm above 21,893. Targets are 22,112/22,385. Place a reasonable stop order based on the assessment of the risk and reward ratio.

WTI Crude Oil

WTI crude oil futures fell toward $74 per barrel on Friday, marking its sixth consecutive decline and heading for its worst week since November, following President Trump’s call for lower crude prices.

Speaking at the Davos forum on Thursday, Trump announced plans to urge Saudi Arabia and OPEC to reduce oil prices, aligning with his administration's energy development priorities. This added to market pessimism, as traders remained cautious about the impact of Trump’s proposed tariffs on global economic growth and energy demand.

On the supply side, EIA data showed US crude inventories fell by 1 million barrels last week, marking a ninth consecutive decline and falling below the five-year seasonal average, contrary to an earlier industry report predicting a build. Meanwhile, distillate fuel stocks saw a sharp drop, while gasoline inventories continued to rise.

(News Source: Tradingeconomics)

Plan A: Long if prices supported firm above 75.08. Targets are 76.02/77.14.

Plan B: Consider short if market failed to support above 75.08. Targets are 73.68/72.44.

Gold

Gold rose above $2,770 per ounce on Friday, reaching its highest level since October, just shy of its record high of $2,790, after President Trump called for an immediate reduction in interest rates. This magnified gold's safety appeal, with lower rates making the non-interest-bearing precious metal more attractive.

Traders continued to flock to safe-haven assets, remaining cautious amid uncertainty over the impact of Trump’s proposed tariffs and immigration policies. A weaker US dollar also supported the upward trend.

Meanwhile, investors are closely watching upcoming policy announcements from global central banks. The BoJ is widely expected to raise interest rates on Friday, while the Fed is anticipated to hold rates next week, and the ECB is expected to cut them. For the week, gold is set to mark its fourth consecutive weekly gain.

(News Source: Tradingeconomics)

Plan A: Consider long only if market supported firm above 2,761. Targets at 2,790/2,802.

Plan B: Short if market prices failed to support above 2,774. Targets are 2,760/2,754.

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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