18 Jun 2025 BMD Local Market

 LOCAL MARKET 

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FKLI

FKLI June month dropped 19 points or 1.24% to closed lower at 1508. The FBM KLCI ended lower on Tuesday, weighed down by continued profit-taking in heavyweight stocks and cautious investor sentiment ahead of the release of key economic data.

Overnight Dow Jones dropped 299 points to closed lower at 42215. U.S. stocks closed lower on Tuesday as the ongoing Israel-Iran conflict entered its fifth day, heightening investor anxiety amid news that the U.S. military had deployed fighter jets to the Middle East.

The actively traded FKLI contract remains near the midpoint of a broad downward channel on the daily chart. On the hourly chart, prices are rangebound within a narrow sideways formation, showing a slight upward bias. However, recent political uncertainties across regional markets have added volatility to the index, skewing the outlook toward a "sell on rebound" strategy. Immediate resistance is seen at the 1514–1515 level, while key support lies between 1505 and 1501. If this support zone holds, some buying interest may emerge; however, a break below could trigger continued selling pressure. Beware of any potential sentiment changes. Immediate support and resistance levels are identified at 1506 and 1514, respectively.

(News Source: Business Today; Reuters)

Recommend Trading Plan:

Long positions may be opened above 1510 with targets at 1514/1519 and stop-loss at 1505

Short positions may be opened below 1510 with targets at 1506/1501 and stop-loss at 1515

FCPO

FCPO Sep month dropped 30 points 0.73% to closed lower at 4064. Malaysian palm oil futures ended lower on Tuesday, breaking a three-day winning streak, pressured by weakness in Chicago soyoil and profit-taking activities.

CBOT soyoil active traded contract dropped 0.32to close lower at 54.79 cents per pound on previous session. Dalian’s active palm oil contract rose 78 points to close higher at 8534 on previous night session.

The actively traded FCPO contract remains within an uptrend channel on the daily chart, with the latest price hovering near the resistance zone of 4,085–4,095. On the hourly chart, prices are consolidating within a minor upward channel, supported above the 4,060–4,065 range and showing an upward bias. Immediate resistance is seen at 4,105–4,110. A breakout above this level could push prices toward the previous high around 4,130–4,135 or beyond. However, failure to break above may trigger a technical correction, with potential pullback toward 4,085 or as low as 4,061. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4085 and 4107, respectively.

(News Source: Reuters)

Recommend Trading Plan:

Long positions may be opened above 4107 with targets at 4132/4158 stop-loss at 4087

Short positions may be opened below 4107 with targets at 4085/4061 stop-loss at 4127

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