FKLI
FKLI Spot Month Futures - 2 July 2024
Tue, 02-Jul-2024 08:27 am
by Dealing Team • Apex Futures

FKLI
Pivot
1599
Resistance
1605 / 1609 / 1611
Support
1597 / 1594 / 1590
Possible Range
1580 to 1615
Strategy
Long positions may be opened above 1600 with targets at 1605/1609 and stop-loss at 1595
Short positions may be opened below 1600 with targets at 1597/1594 and stop-loss at 1605

FKLI July month rose 5.5 or 0.34% to close higher at 1602. The FBM KLCI closed higher on Monday, supported by increases in YTL Corp and Tenaga Nasional.

Overnight Dow Jones rose 50 points to 39169. On Monday, megacap growth stocks such as Apple and Tesla propelled the tech-heavy Nasdaq to a higher close. Meanwhile, the Dow and the S&P 500 also managed slight gains in subdued trading ahead of the holiday. Investors were particularly focused on upcoming U.S. labor market data later in the week, seeking insights into the future of interest rates.

Tracking the positive performance of US market, the FKLI is likely to remain trading in a range with upside bias. The immediate support and resistance levels are identified at 1605 and 1597, respectively.

(News Source: The Star; Reuters)

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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