LOCAL MARKET
FKLI
FKLI Mar month rose 5.5 points or 0.36% to closed higher at 1537.5. Bargain hunting lifted Bursa Malaysia after four consecutive days of losses, as investors seized buying opportunities, in line with regional market trends.
Overnight Dow Jones index rose 485 points to closed higher at 43006. Wall Street's major indexes closed higher in volatile trading on Wednesday, as investors welcomed signs of easing trade tensions between the U.S. and key trading partners.
The actively traded FKLI recovered some losses in yesterday’s session following recent selling pressure. By the close, the chart formed a bullish spinning top candle at a crucial support zone around 1,538–1,540, signaling a potential reversal to the upside. We will continue to monitor this support area closely. If the price stabilizes above this level and breaks through 1,542–1,543, further upside movement toward the 1,550–1,551 region is possible. However, if the 1,538–1,540 support fails to hold, selling pressure may resume. Stay cautious of potential sentiment changes. Immediate support and resistance levels are identified at 1532 and 1538, respectively.
(News Source: The Star; Reuters)
Recommend Trading Plan:
Long positions may be opened above 1535 with targets at 1538/1543 and stop-loss at 1530
Short positions may be opened below 1535 with targets at 1532/1527 and stop-loss at 1540
FCPO
FCPO May month contract rose 68 points or 1.56% to closed higher at 4417. Malaysian crude palm oil futures climbed on Wednesday, breaking a two-session losing streak, tracking gains in the Chicago soyoil market as traders awaited data from the Malaysian Palm Oil Board (MPOB).
Overnight soybean oil for the May contract rose 0.15 to closed higher at 42.99. Dalian’s active palm oil contract dropped 20 points to close lower at 8772 on previous night session.
The actively traded FCPO contract has recovered slightly from the previous session's decline but continues to trade within a broad sideways range, remaining below the midpoint of 4,420–4,425. Yesterday, the price touched the midpoint, triggering selling pressure, indicating a continued downside bias. However, the latest movement appears neutral, with prices fluctuating within a narrow range. Immediate support is observed at 4,365–4,360, where a rebound could present buying opportunities toward 4,390–4,395. A break below support may trigger further selling, potentially testing key support at 4,345–4,340 or even lower. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4368 and 4390, respectively.
(News Source: Reuters)
Recommend Trading Plan:
Long positions may be opened above 4390 with targets at 4415/4438 stop-loss at 4370
Short positions may be opened below 4390 with targets at 4368/4343 stop-loss at 4410
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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