FKLI
FKLI Spot Month Futures - 26 June 2024
Wed, 26-Jun-2024 08:25 am
by Dealing Team • Apex Futures

FKLI
Pivot
1584
Resistance
1590 / 1594 / 1598
Support
1579 / 1576 / 1571
Possible Range
1570 to 1600
Strategy
Long positions may be opened above 1585 with targets at 1590/1594 and stop-loss at 1580
Short positions may be opened below 1585 with targets at 1579/1576 and stop-loss at 1590

FKLI June month dropped 6 or 0.38% to close lower at 1585. The FBM KLCI concluded in the negative for the third consecutive session on Tuesday, as there were insufficient factors to drive significant market movement.

Overnight Dow Jones down 299 points to 39112. The Nasdaq saw a 1.3% rally on Tuesday, driven by strong performances from Nvidia and other large tech companies, while the Dow experienced a decline as retail stocks weighed on the index and investors anticipated crucial inflation data scheduled for later this week.

Tracking the mixed performance of US market, the FKLI is likely to remain trading in downside bias. The immediate support and resistance levels are identified at 1579 and 1590, respectively.

(News Source: The Star; Reuters)

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Market Mover
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