FKLI
FKLI Spot Month Futures - 24 June 2024
Mon, 24-Jun-2024 08:23 am
by Dealing Team • Apex Futures

FKLI
Pivot
1593
Resistance
1596 / 1599 / 1602
Support
1588 / 1584 / 1580
Possible Range
1575 to 1610
Strategy
Long positions may be opened above 1593 with targets at 1596/1599 and stop-loss at 1588
Short positions may be opened below 1593 with targets at 1588/1584 and stop-loss at 1598

FKLI June month rose 2.5 or 0.16% to closed higher at 1592. The FBM KLCI index reduced its gains and closed lower on Friday due to last-minute selling pressure in heavyweight stocks.

Overnight Dow Jones rose 15 points to 39150. The Dow posted gains, while the S&P 500 and Nasdaq ended lower. A global stock index fell for a second consecutive session on Friday, driven by weakness in technology stocks. Meanwhile, the dollar reached its highest level since early May as a measure of U.S. business activity rose to its highest level in over two years.

Assessing mixed performance of the regional market, the FKLI is likely to remain in downside bias trading, beware of any bargain hunting activities which could trigger upward movement. The immediate support and resistance levels are identified at 1588 and 1596, respectively.

(News Source: The Star; 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