FKLI
FKLI Spot Month Futures - 20 Aug 2024
Tue, 20-Aug-2024 08:18 am
by Dealing Team • Apex Futures

FKLI
Pivot
657
Resistance
16664 / 1668 / 1672
Support
1651 / 1646 / 1642
Possible Range
1610 to 1630
Strategy
Long positions may be opened above 1655 with targets at 1664/1668 and stop-loss at 1650
Short positions may be opened below 1655 with targets at 1651/1646 and stop-loss at 1660

FKLI Aug month rose 30 points or 1.85% to close higher at 1655. The FBM KLCI reached a four-year high on Monday, and the ringgit strengthened to below 4.40, propelled by robust second-quarter GDP and trade data.

Overnight Dow Jones rose 236 points to 40896. Global stocks rose and the dollar fell on Monday, buoyed by last week's gains on expectations of a resilient U.S. economy and potential interest rate cuts. On Wall Street, the Dow Jones, S&P 500, Nasdaq Composite, and MSCI's global index all experienced gains.

Tracking the positive performance of US performance, the FKLI could remain in positive territory, beware of profit taking activities. The immediate support and resistance levels are identified at 1651 and 1664, 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