KUALA LUMPUR: The FBM KLCI held on to recent gains even as investor anxiety remained at a high ahead of monetary policy meetings scheduled by central banks this week.
In its daily report, TA Securities expected the local market to remain rangebound as investors say on the sidelines ahead of key US economic data delayed by the government shutdown.
"Immediate resistance is capped at the December 2024 high of 1,644, with the highs of 1,684, and 1,695 acting as tougher upside hurdles. Immediate support remains anchored at the 61.8%FR (1,564), with stronger supports seen at the 50%FR (1,527) followed by the 38.2%FR (1,490)," it said in its technical outlook.
Rakuten Trade said it remained watchful of external risks as sharp movements in global technology markets may continue to influence investor confidence.
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