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FKLI
FKLI Oct month rose 5 points or 0.31% closed at 1613. Bursa Malaysia’s benchmark index reversed earlier losses to end at an intraday high on previous session, supported by mild bargain hunting in several key index heavyweights.
The Dow Jones index rose 144 points to close at 46734 on previous session. Wall Street advanced on Thursday as investors mulled a mixed batch of corporate earnings and shifting geopolitical concerns. All three major U.S. stock indexes closed higher, with tech strength nudging the Nasdaq into the lead. But the small-cap Russell 2000, opens new tab was the clear outperformer.
The actively traded FKLI contract on the daily chart continues to move within an uptrend pattern, although recent price action shows a sideways range, with crucial support spotted at 1600–1595 and resistance near 1620–1625. On the smaller time frame, buying momentum appears to remain intact, and a retracement toward 1607–1606 could present buying opportunities. However, the upside may be limited, with the initial target at 1615–1616. A break above this level could see the index extend higher toward 1621–1622.Beware of any potential sentiment changes. Immediate support and resistance levels are identified at 1607 and 1612, respectively.
(News Source: The Star; Reuters)
Recommend Trading Plan:
Long positions may be opened above 1607 with targets at 1612/1616 and stop-loss at 1602
Short positions may be opened below 1607 with targets at 1602/1597 and stop-loss at 1612
FCPO
FCPO Jan month rose 15 points or 0.34% to closed at 4471. Malaysian palm oil futures closed higher on Thursday, snapping three consecutive sessions of losses, supported by the strength from soyoil at Dalian market.
CBOT soyoil active traded contract jumped 0.80 point to closed at 50.87 on previous session. Dalian’s active palm oil contract rose 12 points to close at 9126 on previous night session.
The actively traded FCPO contract on the daily chart continues to hover within a broad sideways range, with the midpoint spotted at 4455–4465, serving as a key support area that helps prices stay on the positive side. On the hourly chart, a minor downward channel is observed, with the support line at 4410–4415 holding firm and showing signs of buying momentum. The buying bias remains intact, with potential movement toward 4471 and 4494. A break above 4494 could signal further upside, while failure to breach this level may invite mild selling pressure around the area. Beware of any potential sentiment changes. Immediate support and resistance levels are identified at 4447 and 4471, respectively.
(News Source: Reuters)
Recommend Trading Plan:
Long positions may be opened above 4471 with targets at 4494/4516 stop-loss at 4446
Short positions may be opened below 4471 with targets at 4447/4425 stop-loss at 4496
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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