9 May 2025 BMD Local Market

LOCAL MARKET 

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

FKLI

FKLI May month dropped 6.5 points or 0.42% to closed lower at 1538.5. The FBM KLCI closed lower as profit-taking pressure overshadowed bargain-hunting interest, diverging from the positive momentum seen in regional markets following the previous day's gains.

Overnight Dow Jones rose 254 points to closed higher at 41368. Global equities edged higher on Thursday, led by gains on Wall Street, as the dollar and U.S. Treasury yields also rose following a trade deal announcement between the United States and the United Kingdom—boosting optimism for similar agreements with other nations.

The actively traded FKLI contract continues to show an overall upside bias in the broader trend. However, on the hourly chart, the index is consolidating sideways, with the mid-range spotted at 1538–1536. As long as it holds above this range, the buy-on-dip strategy remains intact, targeting the 1545–1547 zone or potentially higher toward 1560. A break below mid-range, however, may lead to further technical correction toward the 1534–1532 zone, with the downside likely extending to 1529–1528. Beware of any potential sentiment changes. Immediate support and resistance levels are identified at 1538 and 1547, respectively.

(News Source: The star, Reuters)

Recommend Trading Plan:

Long positions may be opened above 1542 with targets at 1547/1553 and stop-loss at 1537

Short positions may be opened below 1542 with targets at 1538/1533 and stop-loss at 1547

FCPO

FCPO Jul month rose 73 points or 1.96% to closed higher at 3801. Malaysian palm oil futures rebounded to close higher on Thursday, snapping a seven-session losing streak and recovering from their lowest level since September, driven by strong buying interest from key consumers, particularly India and China.

CBOT soybean oil Jul month jumped 1.12 to closed higher at 48.45. Dalian’s active palm oil contract rose 88 points to close higher at 7952 on previous night session.

The actively traded FCPO contract continues to hover near the lower boundary of its downward channel, with support observed around the 3720–3725 zone, which helped lift prices higher. It is currently trading above a new range of 3810–3815. We anticipate further upward movement driven by technical buying, with immediate resistance seen at the 3840–3845 level. A breakout above this resistance could push prices toward 3865, potentially reaching as high as 3892. However, failure to breach the resistance zone may lead to renewed selling pressure. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 3814 and 3842, respectively.

(News Source: Reuters)

Recommend Trading Plan:

Long positions may be opened above 3842 with targets at 3867/3892 stop-loss at 3822

Short positions may be opened below 3842 with targets at 3814/3789 stop-loss at 3862

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.