19 Mar 2025 BMD Local Market

LOCAL MARKET 

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FKLI

FKLI Mar month rose 12.5 points or 0.83% to closed higher at 1520. Bursa Malaysia's main index closed on Monday with a strong rebound, mirroring regional markets, as investors shifted their focus to China's latest economic stimulus plans.

Overnight Dow Jones index dropped 260 points to closed lower at 41581. Wall Street closed sharply lower on Tuesday, while gold soared to record highs as the U.S. Federal Reserve began its two-day monetary policy meeting amid growing economic uncertainty.

The actively traded FKI contract continued its upward trend from the previous session, with a strong recovery since March 13 forming a bullish engulfing candle on the daily chart, signaling support against further declines. The strategy remains to buy on retracements. Support is seen in the 1514-1512 range for the minor uptrend on the hourly chart—holding above this level could present a buying opportunity toward 1525-1526. However, failure to hold may trigger selling pressure toward 1509-1510, with further downside potential toward 1504-1505.Stay cautious of potential sentiment changes. Immediate support and resistance levels are identified at 1519 and 1525, respectively.

(News Source: The Star; Reuters)

Recommend Trading Plan:

Long positions may be opened above 1514 with targets at 1519/1525 and stop-loss at 1509

Short positions may be opened below 1514 with targets at 1509/1504 and stop-loss at 1519

FCPO

FCPO Jun month contract dropped 108 points or 2.41% to closed lower at 4366. Malaysian crude palm oil futures ended lower on Monday, influenced by the performance of rival edible oils on the Dalian market, while weak export data limited gains.

Overnight soybean oil for the May contract rose 0.44 to closed higher at 42.54. Dalian’s active palm oil contract rose 102 points to close higher at 9110 on previous night session.

The actively traded FCPO contract is currently the June contract. From a broader perspective, the price remains in a wide-ranging sideways consolidation but has broken below a key support level at 4430-4425, signaling a continuation of the downside bias. On the hourly chart, the price is hovering near the support zone of a smaller sideways range. A crucial support area is seen at 4300-4305—holding above this level could sustain the uptrend that has been building since mid-January 2025. Resistance is observed at 4385-4380; a breakout above this level could trigger further buying towards 4410-4405. However, failure to break above may invite renewed selling pressure. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4362 and 4383, respectively.

(News Source: Reuters)

Recommend Trading Plan:

Long positions may be opened above 4383 with targets at 4407/4432 stop-loss at 4363

Short positions may be opened below 4383 with targets at 4362/4333 stop-loss at 4403

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.