FKLI
FKLI Spot Month Futures - 13 Aug 2024
Tue, 13-Aug-2024 08:28 am
by Dealing Team • Apex Futures

FKLI
Pivot
1607
Resistance
1611 / 1615 / 1619
Support
1603 / 1599 / 1595
Possible Range
1590 to 1620
Strategy
Long positions may be opened above 1607 with targets at 1611/1615 and stop-loss at 1602
Short positions may be opened below 1607 with targets at 1603/1599 and stop-loss at 1612

FKLI Aug month rose 15.5 points or 0.97% to close higher at 1609. The FBM KLCI held above the 1,600 psychological level as it reached the lunch break, reflecting a rebound in regional sentiment.

Overnight Dow Jones dropped 140 points to 39357. Wall Street stocks ended mixed on Monday as investors prepared for a series of U.S. economic reports this week, particularly on consumer prices, to assess the future direction of Federal Reserve monetary policy. The Dow Jones Industrial Average declined, while both the S&P 500 index and the tech-focused Nasdaq Composite Index posted gains.

Tracking the mixed performance of US performance, the FKLI could potentially trade within a sideway consolidation in downside bias, however the index remain supported above 1600 level. The immediate support and resistance levels are identified at 1603 and 1611, respectively.

(News Source: The Star; Reuters)

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Market Mover
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