FKLI
FKLI Spot Month Futures (PM) - 27 June 2024
Thu, 27-Jun-2024 01:35 pm
by Dealing Team • Apex Futures

FKLI
Pivot
1587
Resistance
1590 / 1594 / 1598
Support
1583 / 1579 / 1575
Possible Range
1580 to 1600
Strategy
Long positions may be opened above 1587 with targets at 1590/1594 and stop-loss at 1582
Short positions may be opened below 1587 with targets at 1583/1579 and stop-loss at 1592

FKLI June month dropped 9 point or 0.56% at 1586.5 closed lower at midday. The domestic market faced selling pressure in the early session as investors withdrew funds ahead of a crucial US inflation data release tomorrow. By the lunch break, the benchmark FBM KLCI had dropped 6.61 points to 1,584.34, continuing its decline following a modest rebound in the previous session.

Global investors are on edge, anticipating the release of the US Personal Consumption Expenditures (PCE) index, the Federal Reserve's preferred measure of inflation, late on Friday.

The FKLI likely to continue the upward side bias trading on technical buying, but beware of any selling pressure coming in. The immediate support and resistance levels are identified at 1583 and 1590, respectively.

(News Source: The Star)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.186344 4.224837
EUR 4.692802 4.707788
CNY 0.594564 0.595974
HKD 0.537155 0.542118
SGD 3.243708 3.273864