Bursa Malaysia has moved higher in consecutive trading days, collecting more than a dozen points or 0.7% along the way. The Kuala Lumpur Composite Index now sits just above the 1,605-point plateau and it's likely to remain in that neighborhood again on Wednesday.

RHB Investment Bank Bhd (RHB Research) advises maintaining short positions on the FKLI despite a rebound, while recommending holding long positions on the FCPO amid renewed bullish momentum.

The FKLI rose 7 points to close at 1,608, reclaiming ground above the 200-day simple moving average (SMA) line. The index traded between 1,594.50 and 1,609.50 throughout the session, supported by an upward RSI suggesting continued positive momentum.

While the FKLI is expected to test the 1,620 resistance level, strong selling pressure may emerge. RHB Research maintains a negative trading bias, with short positions initiated at 1,627.50 on 4 October. The initial stop-loss is set at 1,639, with support levels at 1,580 and 1,550.

In contrast, the FCPO surged RM120 to close at RM5,075, buoyed by strong buying interest. The session saw the commodity trade between RM4,946 and RM5,087, forming a bullish candlestick supported by an upward RSI. The FCPO is expected to test the RM5,200 resistance, with potential upside towards RM5,500.

The 50-day SMA line continues to trend upwards, reinforcing the bullish setup. Long positions, initiated at RM5,020 on Nov 29, are maintained with a stop-loss at RM4,750. Key support levels are at RM4,850 and RM4,750.

Traders are encouraged by RHB Research to monitor resistance and support levels to manage risks effectively.