FKLI
FKLI Spot Month Futures - 19 Aug 2024
Mon, 19-Aug-2024 08:20 am
by Dealing Team • Apex Futures

FKLI
Pivot
1624
Resistance
1630 / 1634 / 1639
Support
1621 / 1617 / 1613
Possible Range
1610 to 1630
Strategy
Long positions may be opened above 1624 with targets at 1630/1634 and stop-loss at 1619
Short positions may be opened below 1624 with targets at 1621/1617 and stop-loss at 1629

FKLI Aug month rose 8.5 points or 0.53% to close higher at 1625. The FBM KLCI surged sharply for the sixth consecutive session on Friday, driven by buying interest in select heavyweight stocks, mirroring the performance of its regional counterparts.

Overnight Dow Jones rose 96 points to 40659. U.S. stocks closed higher on Friday, marking their largest weekly percentage gains of the year as concerns about an economic downturn diminished and investors turned their attention to the Jackson Hole Economic Symposium scheduled for next week.

Tracking the positive performance of US performance, the FKLI could potentially trade in sideway consolidation with upside bias, beware of profit taking activities. The immediate support and resistance levels are identified at 1621 and 1630, 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