FKLI
FKLI Spot Month Futures - 15 Aug 2024
Thu, 15-Aug-2024 08:23 am
by Dealing Team • Apex Futures

FKLI
Pivot
1615
Resistance
1621 / 1626 / 1631
Support
1610 / 1603 / 1598
Possible Range
1610 to 1630
Strategy
Long positions may be opened above 1615 with targets at 1621/1626 and stop-loss at 1610
Short positions may be opened below 1615 with targets at 1610/1603 and stop-loss at 1620

FKLI Aug month rose 6 points or 0.37% to close higher at 1617. The FBM KLCI ended slightly higher on Wednesday, reflecting the positive performance seen across the region. However, investors remained cautious and adopted a risk-off approach ahead of the upcoming US inflation report, according to an analyst.

Overnight Dow Jones rose 242 points to 40008. The three major US stocks extended their winning streak to five sessions on Wednesday, driven by the latest inflation data that reassured investors anticipating Federal Reserve interest rate cuts next month. However, trading activity was generally subdued, with many investors on August vacations and a lack of new market catalysts, leading to a generally listless performance among the benchmarks.

Tracking the positive performance of US performance, the FKLI could potentially trade higher. The immediate support and resistance levels are identified at 1610 and 1621, 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