FKLI
FKLI Spot Month Futures - 21 Aug 2024
Wed, 21-Aug-2024 08:17 am
by Dealing Team • Apex Futures

FKLI
Pivot
1654
Resistance
1659 / 1664 / 1671
Support
1648 / 1641 / 1636
Possible Range
1635 to 1660
Strategy
Long positions may be opened above 1652 with targets at 1659/1664 and stop-loss at 1647
Short positions may be opened below 1652 with targets at 1648/1641 and stop-loss at 1657

FKLI Aug month dropped 3.5 points or 0.21% to close lower at 1651.5. The FBM KLCI closed lower on Tuesday as investors opted to take profits after seven consecutive days of gains.


Overnight Dow Jones dropped 61 points to 40834. U.S. stocks ended slightly lower on Tuesday, ending their recent winning streak as the market awaited the Jackson Hole Economic Symposium starting Thursday. All three major U.S. stock indexes dipped, concluding a multi-session rally that had seen equities recover from a significant sell-off driven by recession concerns.


Tracking the negative performance of US performance, the FKLI could trade in downside bias. The immediate support and resistance levels are identified at 1648 and 1659, respectively.
 

(News Source: The Star; Reuters)

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