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FKLI
FKLI Sep month rose 5.5 points or 0.34% closed at 1629. The domestic market was off to a slow start on Friday as traders held their positions ahead of the tabling of Budget 2026.
The Dow Jones index dropped 243 points to close at 46358 on previous session. U.S. stocks ended in negative territory on Thursday as investors, left with no economic data or any sentiment-swaying catalysts, took the opportunity to consolidate ahead of third-quarter earnings season. The S&P 500 and the Nasdaq inched back from Wednesday's record closing highs, while the blue-chip Dow closed with the deepest percentage decline.
The actively traded FKLI contract on the daily chart continues to hold above the crucial support range of 1614–1616, maintaining its recent uptrend. However, the market appears to remain in a technical correction phase after a brief rebound. For the short term, we continue to expect sell-on-rebound opportunities. On the upside, the 1628–1630 range serves as the immediate resistance zone, where the index may attempt another push higher. Beware of any potential sentiment changes. Immediate support and resistance levels are identified at 1620 and 1626, respectively.
(News Source: The Star; Reuters)
Recommend Trading Plan:
Long positions may be opened above 1620 with targets at 1626/1630 and stop-loss at 1615
Short positions may be opened below 1620 with targets at 1616/1611 and stop-loss at 1625
FCPO
FCPO Dec month rose 46 points or 1.01% to closed at 4591. Malaysian palm oil futures notched a seven-month closing high on Thursday, driven by strength in rival Dalian oils and Indonesia's biodiesel plans, while profit-taking is expected ahead of the Malaysia Palm Oil Board's (MPOB) monthly data release.
CBOT soyoil active traded contract dropped 0.54 point to closed lower at 50.94 on previous session. Dalian’s active palm oil contract rose 84 points to close at 9596 on previous night session.
The actively traded FCPO contract continued its uptrend after breaking above the 4570–4565 range, which now serves as the immediate support zone. The price encountered resistance at the 4610–4615 range, aligning with the previous high. The bullish momentum remains intact, with buy on retracement still the preferred strategy. A break above the crucial 4610–4615 resistance could see the price advancing toward the next target at 4645–4650. Beware of any potential sentiment changes. Immediate support and resistance levels are identified at 4571 and 4600, respectively.
(News Source: Reuters)
Recommend Trading Plan:
Long positions may be opened above 4600 with targets at 4620/4638 stop-loss at 4575
Short positions may be opened below 4600 with targets at 4571/4550 stop-loss at 4625
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.
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