FKLI
FKLI Spot Month Futures - 5 Aug 2024
Mon, 05-Aug-2024 08:24 am
Apex Futures

FKLI
Pivot
1620
Resistance
1623 / 1626 / 1629
Support
1614 / 1611 / 1607
Possible Range
1605 to 1625
Strategy
Long positions may be opened above 1617 with targets at 1623/1626 and stop-loss at 1612
Short positions may be opened below 1617 with targets at 1614/1611 and stop-loss at 1622

FKLI Aug month dropped 12 points or 0.74% to close lower at 1619. The FBM KLCI traded lower on Friday, mirroring the losses seen on Wall Street the previous night.

Overnight Dow Jones slide 610 points to 39737. U.S. stocks fell for the second consecutive session on Friday, with the Nasdaq Composite officially entering correction territory following a weak jobs report that heightened concerns about a potential recession.

Tracking the negative performance of US performance, the FKLI could trade further lower. The immediate support and resistance levels are identified at 1614 and 1623, respectively

(News Source: The Star; Reuters)

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Market Mover
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