FKLI
FKLI Spot Month Futures - 2 Aug 2024
Fri, 02-Aug-2024 08:26 am
by Dealing Team • Apex Futures

FKLI
Pivot
1626
Resistance
1629 / 1632 / 1635
Support
1622 / 1619 / 1616
Possible Range
1615 to 1630
Strategy
Long positions may be opened above 1626 with targets at 1629/1632 and stop-loss at 1621
Short positions may be opened below 1626 with targets at 1622/1619 and stop-loss at 1631

FKLI Aug month rose 2 points or 0.12% to close higher at 1631. The FBM KLCI experienced profit-taking, remaining mostly in negative territory on Thursday, while the ringgit strengthened against the US dollar.

Overnight Dow Jones slump 494 points to 40347. U.S. stocks started August with a sharp decline following Thursday's economic data, which raised concerns that the economy might be slowing more quickly than expected, even as the Federal Reserve continues its restrictive monetary policy.

Tracking the negative performance of US performance, the FKLI could remain in sideway consolidation with downside bias. The immediate support and resistance levels are identified at 1622 and 1628, respectively.

(News Source: Bernama)

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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