LOCAL MARKET
Click here to contact us: https://goo.gl/B6Dccf
FKLI Sep month rose 11.5 points or 0.74% closed higher at 1568 on previous trading session. The FBM KLCI closed little changed ahead of the long weekend, after Bank Negara kept interest rates steady, amid broadly higher regional markets.
The Dow Jones index rose 114 points to close higher at 45514 on previous session. The Nasdaq closed at a record high on Monday, driven by strong gains in Broadcom, while the S&P 500 also advanced as investors grew confident that the Federal Reserve will soon cut borrowing costs to support economic growth.
The actively traded FKLI contract traded within a narrow range last week after rolling into the new active month. On the daily chart, the index continued to find support above the 1,545–1,550 zone, sustaining its position within a broader upward channel. On the hourly chart, technical buying momentum remains intact, with immediate resistance at 1,565–1,567. A breakout above this range could extend gains toward 1,575–1,577, while failure to do so may trigger renewed selling pressure. Key support is seen at 1,556–1,554, which is crucial for maintaining the recent upward momentum. Beware of any potential sentiment changes. Immediate support and resistance levels are identified at 1568 and 1572, respectively.
(News Source: Business Today; Reuters)
Recommend Trading Plan:
Long positions may be opened above 1568 with targets at 1572/1576 and stop-loss at 1563
Short positions may be opened below 1568 with targets at 1563/1558 and stop-loss at 1573
FCPO Nov month rose 40 points or 0.90% to closed higher at 4488. Malaysian palm oil futures rebounded to close higher on Monday, supported by strength in edible oils on the Dalian and Chicago exchanges, alongside firmer crude oil prices.
CBOT soyoil active traded contract rose 0.24 point to closed higher at 51.47 on previous session. Dalian’s active palm oil contract rose 12 points to closed slightly higher at 9440 on previous night session.
The actively traded FCPO contract closed slightly higher in the previous session, with the daily chart still reflecting an upward trend. Price action was confined to a narrow range, touching a low of 4,426 before rebounding higher. The price broke above the resistance zone of 4,450–4,460, which now serves as a support range, signaling potential opportunities for a buy-on-retracement strategy. A breakout above the next resistance level at 4,495–4,500 could drive prices toward 4,515, while failure to surpass this range may result in continued sideways consolidation, with key support maintained at 4,450–4,460. Beware of any potential sentiment changes. The immediate support and resistance levels are pinpointed at 4469 and 4444, respectively.
(News Source: Reuters)
Recommend Trading Plan:
Long positions may be opened above 4492 with targets at 4515/4539 stop-loss at 4472
Short positions may be opened below 4492 with targets at 4469/4444 stop-loss at 4512
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.
0 comments:
Post a Comment