FKLI
FKLI Spot Month Futures - 23 July 2024
Tue, 23-Jul-2024 08:31 am
by Dealing Team • Apex Futures

FKLI
Pivot
1625
Resistance
1625 / 1629 / 1632
Support
1618 / 1615 / 1610
Possible Range
1615 to 1630
Strategy
Long positions may be opened above 1625 with targets at 1629/1632 and stop-loss at 1620
Short positions may be opened below 1625 with targets at 1618/1615 and stop-loss at 1630

FKLI July month tumbled 18 points or 1.10% to close lower at 1622. The local bourse experienced a sea of red as over 1,000 counters fell, reflecting the prevailing weak sentiment in the market exacerbated by U.S. President Joe Biden's withdrawal from the 2024 presidential race, which has sparked additional uncertainty.

Overnight Dow Jones up 127 points to 40,415. All three major Wall Street indices closed higher as investors returned to megacap growth stocks, aiding the S&P 500 and Nasdaq Composite in rebounding from their weakest weekly performance since April.

Tracking the bullish performance of US performance, the FKLI could potentially recover, but gains likely to limited. The immediate support and resistance levels are identified at 1618 and 1625, 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