FKLI
FKLI Spot Month Futures - 9 July 2024
Tue, 09-Jul-2024 08:32 am
by Dealing Team • Apex Futures

FKLI
Pivot
1620
Resistance
1624 / 1626 / 1629
Support
1617 / 1615 / 1613
Possible Range
1610 to 1630
Strategy
Long positions may be opened above 1620 with targets at 1624/1626 and stop-loss at 1615
Short positions may be opened below 1620 with targets at 1617/1615 and stop-loss at 1625

FKLI July month dropped 5.5 0r 0.34 to close lower at 1619. The FBM KLCI index reversed its two-day gains to close lower on Friday, although it remained above the 1,600 level. Investors opted to take profits amid the negative performance of regional peers.

Overnight Dow Jones dropped 31 points to 39344. The Dow closed lower on Monday, whereas the S&P 500 and Nasdaq achieved record-high closes. Investors were awaiting new inflation data, comments from Federal Reserve Chair Jerome Powell, and the beginning of the quarterly earnings season.

Tracking the mixed performance of US performance, the FKLI potentially consolidate in downside bias. The immediate support and resistance levels are identified at 1617 and 1624, respectively.

(News Source: The Star; Reuters)

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