18 Jul 2025 BMD Local Market

LOCAL MARKET 

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FKLI

FKLI Jul month rose 17.5 points or 1.16% to closed higher at 1523. The FBM KLCI finished higher today, mirroring gains across regional markets as investors showed renewed confidence amid improving sentiment.

The Dow Jones index rose 229 points to closed higher at 44484 on previous session. The S&P 500 and Nasdaq Composite both closed at record highs on Thursday, lifted by strong economic data and upbeat earnings that signaled continued consumer spending strength. The Nasdaq has now recorded a new high in six of the last seven sessions, while the S&P 500 has posted six record finishes since June 27.

The actively traded FKLI contract remains in a broader downward trend. However, on the hourly chart, the index recently experienced technical buying interest after testing the support range of 1502–1500. This indicates continued buying momentum, with potential for the index to climb towards the resistance zone at 1530–1532. A breakout above this resistance may open room for further upside, but if the level fails to break, selling pressure may re-emerge from that point. Beware of any potential sentiment changes. Immediate support and resistance levels are identified at 1521 and 1531, respectively.

(News Source: The Star; Reuters)

Recommend Trading Plan:

Long positions may be opened above 1526 with targets at 1531/1536 and stop-loss at 1521

Short positions may be opened below 1526 with targets at 1521/1516 and stop-loss at 1531

FCPO

FCPO Oct month dropped 14 points or 0.33% to closed lower at 4210. Malaysian palm oil futures ended lower on Thursday, reversing the previous session’s gains, as profit-taking set in following weaker export data for the July 1–15 period.

CBOT soyoil active traded contract surged 1.47 points to closed higher at 56.15 on previous session. Dalian’s active palm oil contract jumped 126 points to close higher at 8890 on previous night session.

The actively traded FCPO contract continues to move within an upward channel on the daily chart, with prices holding firmly above the immediate support zone at 4,240–4,245. This range serves as a key level to sustain upward momentum in the event of a technical pullback. On the hourly chart, FCPO prices surged and tested the resistance boundary of the channel at 4,295–4,300. A short-term pullback may occur, and we maintain a buy-on-retracement strategy. If this resistance is breached, further upside potential could extend toward 4,318, with a possible peak at the 4,344 level. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4268 and 4294, respectively.

(News Source: Reuters)

Recommend Trading Plan:

Long positions may be opened above 4294 with targets at 4318/4344 stop-loss at 4274

Short positions may be opened below 4294 with targets at 4268/4246 stop-loss at 4314

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.