FKLI
FKLI Spot Month Futures - 21 June 2024
Fri, 21-Jun-2024 08:26 am
by Dealing Team • Apex Futures

FKLI
Pivot
1592
Resistance
1595 / 1597 / 1602
Support
1587 / 1583 / 1580
Possible Range
1580 to 1610
Strategy
Long positions may be opened above 1590 with targets at 1595/1596 and stop-loss at 1585
Short positions may be opened below 1590 with targets at 1587/1583 and stop-loss at 1595

FKLI June month dropped 7.5 or 0.47% to closed lower at 1589.5. The FBM KLCI index saw its fourth consecutive day of decline, with profit-taking dragging the key index below the 1,600 mark. Selling pressure affected multiple sectors, including construction, telecommunications, utilities, and energy.

Overnight Dow Jones rose 299 points to 39134. The Dow closed higher on Thursday, while the S&P 500 and Nasdaq finished lower. Market leader Nvidia retreated from earlier gains as investors analyzed recent economic data and comments from Federal Reserve officials to assess the potential timing of interest-rate cuts this year.

Assessing positive performance of the regional market, the FKLI is likely to trade in upside bias, with bargain hunting activities coming in. The immediate support and resistance levels are identified at 1587 and 1595, respectively.

(News Source: NST; Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.186095 4.224386
EUR 4.685732 4.700656
CNY 0.595462 0.596801
HKD 0.537358 0.541779
SGD 3.239345 3.269267