FKLI
FKLI Spot Month Futures - 31 July 2024
Wed, 31-Jul-2024 08:24 am
by Dealing Team • Apex Futures

FKLI
Pivot
1619
Resistance
1623 / 1626 / 1629
Support
1614 / 1610 / 1607
Possible Range
1615 to 1630
Strategy
Long positions may be opened above 1619 with targets at 1623/1626 and stop-loss at 1614
Short positions may be opened below 1619 with targets at 1614/1610 and stop-loss at 1624

FKLI Aug month dropped 12 points or 0.74% to close lower at 1614.5. Bursa Malaysia benchmark index struggled to sustain a positive trend and fell further in the afternoon session on previous session as investors remained cautious about major central bank decisions, key economic data, and earnings reports from major US companies.

Overnight Dow Jones rose 203 points to 40,743. The S&P 500 and Nasdaq closed lower on Tuesday, pressured by declines in chip stocks and large-cap shares ahead of earnings reports from major tech companies later this week. However, the Dow managed to secure modest gains.

Tracking the mixed performance of US performance, the FKLI could trade within the sideway consolidation with upside bias on technical buying. The immediate support and resistance levels are identified at 1614 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