28 Jul 2025 BMD Local Market

LOCAL MARKET 

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FKLI

FKLI Jul month dropped 5.5 points or 0.36% to closed lower at 1531.5.  Bursa Malaysia finished at its intraday high for the second straight session yesterday, driven by global optimism and the latest round of government fiscal aid that led investors to be back in the local market.

The Dow Jones index rose 208 points to closed higher at 44901 on previous session. U.S. stocks climbed and the dollar strengthened on Friday as investors positioned themselves for a pivotal week ahead, which includes a Federal Reserve policy meeting, key corporate earnings reports, and the approaching August 1 deadline set by President Donald Trump for progress on trade negotiations.

The actively traded FKLI contract continues to trend within a broader downward channel. On the hourly chart, the index recently approached the key resistance zone at 1536–1538. A successful breakout above this range could pave the way for further upside toward the 1542–1545 region. However, if the resistance fails to break, the market may remain in a consolidation phase within a neutral range. On the downside, the crucial support zone lies between 1527 and 1530. Beware of any potential sentiment changes. Immediate support and resistance levels are identified at 1531 and 1537, respectively.

(News Source: The Star; Reuters)

Recommend Trading Plan:

Long positions may be opened above 1537 with targets at 1542/1548 and stop-loss at 1532

Short positions may be opened below 1537 with targets at 1531/1525 and stop-loss at 1542

FCPO

FCPO Oct month dropped 57 points or 1.32% to closed lower at 4330. Malaysian palm oil futures closed over 1% lower on Friday, halting a three-week winning streak, as profit-taking and worries over increasing production coupled with weak demand pressured prices.

CBOT soyoil active traded contract dropped 0.36 points to closed lower at 55.98 on previous session. Dalian’s active palm oil contract dropped 62 points to close lower at 8922 on previous night session.

The actively traded FCPO contract continues to trend within an upward channel on the daily chart. The price recently tested the resistance level at 4,374 before pulling back, with Friday’s session closing in a bearish candlestick pattern—following a spinning top on Thursday near the resistance zone—indicating a potential continuation of the bearish move.

On the hourly chart, the previous session showed a sharp sell-down, with some technical buying emerging in the final minutes. Immediate resistance is seen at the 4,280–4,285 range. A breakout above this level may lead the price higher toward the 4,322 regions. However, if this resistance fails to break, selling on rebound may resume. Key support lies at the 4,220–4,210 range, which needs to hold to prevent further downside. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4310 and 4332, respectively.

(News Source: Reuters)

Recommend Trading Plan:

Long positions may be opened above 4278 with targets at 4300/4322 stop-loss at 4258

Short positions may be opened below 4278 with targets at 4254/4229 stop-loss at 4298

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.