FKLI
FKLI Spot Month Futures - 10 July 2024
Wed, 10-Jul-2024 08:24 am
by Dealing Team • Apex Futures

FKLI
Pivot
1614
Resistance
1616 / 1618 / 1623
Support
1608 / 1605 / 1603
Possible Range
1610 to 1630
Strategy
Long positions may be opened above 1613 with targets at 1616/1618 and stop-loss at 1608
Short positions may be opened below 1613 with targets at 1608/1605 and stop-loss at 1618

FKLI July month fell 9 points or 0.56 to close lower at 1610. While the FBM KLCI, ended Tuesday with gains, supported by buying interest in banking stocks, ahead of Bank Negara Malaysia's decision on the overnight policy rate (OPR).

Overnight Dow Jones fell 52 points to 39291. The Dow dropped, but the S&P 500 and Nasdaq achieved record highs on Tuesday. These gains were driven by Nvidia's performance, which surged after Federal Reserve Chair Jerome Powell indicated to lawmakers that additional positive economic data could support the argument for reducing interest rates.

Tracking the mixed performance of US performance, the FKLI potentially consolidate in sideway, potentially provide some buying opportunity if supported. The immediate support and resistance levels are identified at 1608 and 1616, 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