FKLI
FKLI Spot Month Futures - 30 July 2024
Tue, 30-Jul-2024 08:30 am
by Dealing Team • Apex Futures

FKLI
Pivot
1625
Resistance
1633 / 1635 / 1638
Support
1623 / 1619 / 1616
Possible Range
1620 to 1635
Strategy
Long positions may be opened above 1627 with targets at 1633/1635 and stop-loss at 1622
Short positions may be opened below 1627 with targets at 1623/1619 and stop-loss at 1632

FKLI July month surged 13 points or 0.81% to close higher at 1626.5. The FBM KLCI rebounded strongly on Monday, buoyed by the latest indication of slowing inflation in the US and anticipation of dovish remarks from the Federal Reserve later in the week.

Overnight Dow Jones dropped 49 points to 40,539. Global stock futures were flat in overnight trading on Monday as investors awaited key corporate earnings reports and the start of the Federal Reserve’s policy meeting.

Tracking the mixed performance of US performance, the FKLI could trade within the sideway consolidation with upside bias. The immediate support and resistance levels are identified at 1623 and 1633, respectively.

(News Source: The Star, CNBC)

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