FKLI
FKLI Spot Month Futures - 29 July 2024
Mon, 29-Jul-2024 08:21 am
by Dealing Team • Apex Futures

FKLI
Pivot
1616
Resistance
1619 / 1622 / 1625
Support
1613 / 1609 / 1605
Possible Range
1610 to 1625
Strategy
Long positions may be opened above 1616 with targets at 1619/1622 and stop-loss at 1611
Short positions may be opened below 1616 with targets at 1613/1609 and stop-loss at 1621

FKLI July month dropped 0.5 point or 0.03% to close lower at 1613.5. Bursa Malaysia benchmark index extended its losing streak to a third consecutive session, concluding the week with a slight decline.

Overnight Dow Jones rose 654 points to 40,589. On Friday, a global stock index climbed for the first time in four sessions as equities steadied after a sharp selloff, bolstered by improving U.S. inflation data that led to lower Treasury yields. The Dow Jones index also rose, while megacap stocks showed signs of stabilization, and the Nasdaq gained about 1% after a nearly 5% decline over the previous three days. Despite these gains, the S&P 500 ended the week down 0.83%.

Tracking the bullish performance of US performance, the FKLI could trade within the sideway consolidation with upside bias. The immediate support and resistance levels are identified at 1613 and 1619, 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