FKLI
FKLI Spot Month Futures (PM) - 16 July 2024
Tue, 16-Jul-2024 02:01 pm
by Dealing Team • Apex Futures

FKLI
Pivot
1631
Resistance
1633 / 1635 / 1638
Support
1629 / 1626 / 1622
Possible Range
1620 to 1640
Strategy
Long positions may be opened above 1631 with targets at 1633/1635 and stop-loss at 1626
Short positions may be opened below 1631 with targets at 1629/1626 and stop-loss at 1636

FKLI July month dropped 5 points or 0.31% at 1629 closed lower at midday. The FBM KLCI fell back below the 1,630 mark, erasing all the gains made during the early session and moving into negative territory.

Asian markets, including Bursa Malaysia, have retreated as investors weighed the potential impact of another Donald Trump presidency on already strained US-China relations. In the local market, the financial services sector was among the hardest hit, with banking heavyweights dragging down the index.

The FKLI likely to remain supported however the technical correction could continue for next session. The immediate support and resistance levels are identified at 1629 and 1633, respectively

(News Source: The Star)

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Market Mover
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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