FKLI
FKLI Spot Month Futures - 26 July 2024
Fri, 26-Jul-2024 08:32 am
by Dealing Team • Apex Futures

FKLI
Pivot
1616
Resistance
1623 / 1627 / 1631
Support
1616 / 1613 / 1609
Possible Range
1615 to 1630
Strategy
Long positions may be opened above 1618 with targets at 1623/1627 and stop-loss at 1613
Short positions may be opened below 1618 with targets at 1616/1613 and stop-loss at 1623

FKLI July month dropped 9.5 points or 0.59% to close lower at 1614. Bursa Malaysia’s key index experienced a slight decline on Thursday, influenced by the weak performance on Wall Street overnight, which had a ripple effect on regional markets.

Overnight Dow Jones rose 81 points to 39,935. The S&P 500 and Nasdaq Composite closed lower after a volatile session on Thursday, struggling to recover from the previous day's tech-driven sell-off as investors assessed the future of major technology stocks. In contrast, the Dow Jones Industrial Average held onto early gains and ended higher, buoyed by stronger-than-expected U.S. GDP data.

Tracking the mixed performance of US performance, the FKLI could trade within the range with slight upside bias. The immediate support and resistance levels are identified at 1616 and 1623, 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