FKLI
FKLI Spot Month Futures - 4 July 2024
Thu, 04-Jul-2024 08:15 am
by Dealing Team • Apex Futures

FKLI
Pivot
1615
Resistance
1623 / 1627 / 1629
Support
1615 / 1610 / 1606
Possible Range
1610 to 1630
Strategy
Long positions may be opened above 1618 with targets at 1623/1627 and stop-loss at 1613
Short positions may be opened below 1618 with targets at 1615/1610 and stop-loss at 1623

FKLI July month surged 20.5 or 1.28% to close slightly higher at 1621. The FBM KLCI saw a significant rise on Tuesday, driven by last-minute buying interest in blue-chip stocks.

Overnight Dow Jones dropped 23 points to 39308. Global stocks climbed on Wednesday as the U.S. dollar weakened, prompted by subdued labor market data that bolstered investor anticipation of Federal Reserve interest rate reductions later in the year.

Tracking the positive performance of US market, the FKLI potentially continue in upward bias trading. The immediate support and resistance levels are identified at 1615 and 1623, 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