FKLI
FKLI Spot Month Futures - 24 July 2024
Wed, 24-Jul-2024 08:27 am
by Dealing Team • Apex Futures

FKLI
Pivot
1630
Resistance
1637 / 1642 / 1645
Support
1630 / 1627 / 1624
Possible Range
1629 to 1645
Strategy
Long positions may be opened above 1632 with targets at 1637/1642 and stop-loss at 1627
Short positions may be opened below 1632 with targets at 1630/1627 and stop-loss at 1637

FKLI July month rose 11.5 points or 0.71% to close higher at 1633.5. The FBM KLCI bounced back on Tuesday as investor confidence returned after a previous day's downturn, which was driven by sluggish performance across Asian markets.

Overnight Dow Jones dipped 57 points to 40,358. Global stocks retreated slightly after initially rising, and U.S. bond yields decreased on Tuesday. Market attention shifted towards upcoming economic data and a wave of corporate earnings reports, overshadowing U.S. President Joe Biden's announcement to halt his reelection campaign

Tracking the bearish performance of US performance, the FKLI could trade within a range, more likely to downside bias. The immediate support and resistance levels are identified at 1630 and 1637, 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