FKLI
FKLI Spot Month Futures - 15 July 2024
Mon, 15-Jul-2024 08:22 am
by Dealing Team • Apex Futures

FKLI
Pivot
1624
Resistance
1628 / 1630 / 1633
Support
1621 / 1618 / 1616
Possible Range
1625 to 1630
Strategy
Long positions may be opened above 1625 with targets at 1628/1630 and stop-loss at 1620
Short positions may be opened below 1625 with targets at 1621/1618 and stop-loss at 1630

FKLI July month rose 6.5 points or 0.40% to close higher at 1625.5. The FBM KLCI closed in the red on Friday as investors took a pause to lock in recent gains, while the ringgit strengthened to its highest level in six months.

Overnight Dow Jones rose 247 points to 40,000. Wall Street ended on a positive note on Friday as both the S&P 500 and Dow Jones Industrial Average reached new intraday highs. Investor optimism stemmed from expectations that the U.S. Federal Reserve would reduce interest rates in September, although major banks saw declines following a release of varied financial results.

Tracking the bearish performance of US performance, the FKLI potentially trade within a range, in sideway consolidation with slightly upside bias. The immediate support and resistance levels are identified at 1621 and 1628, 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