FKLI
FKLI Spot Month Futures - 28 June 2024
Fri, 28-Jun-2024 08:19 am
by Dealing Team • Apex Futures

FKLI
Pivot
1585
Resistance
1588 / 1591 / 1596
Support
1580 / 1575 / 1572
Possible Range
1580 to 1600
Strategy
Long positions may be opened above 1585 with targets at 1588/1591 and stop-loss at 1580
Short positions may be opened below 1585 with targets at 1580/1575 and stop-loss at 1590

FKLI July month dipped 14.5 or 0.91% to close lower at 1582.5. The FBM KLCI ended lower on Thursday as investors exercised caution amid a absence of significant local market drivers.

Overnight Dow Jones dropped 36 points to 39164. U.S. stocks finished Thursday near unchanged levels as investors awaited new inflation figures. The Nasdaq managed a slight gain following data indicating a persistent economic slowdown, fueling hopes among investors for potential rate cuts.

Tracking the mixed performance of US market, the FKLI is likely to remain trading in a range with downside bias with sentiment remain weaker. The immediate support and resistance levels are identified at 1588 and 1580, respectively.

(News Source: The Star; Reuters)

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Market Mover
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