FKLI
FKLI Spot Month Futures - 28 Aug 2024
Wed, 28-Aug-2024 08:10 am
by Dealing Team • Apex Futures

FKLI
Pivot
1653
Resistance
1659 / 1665 / 1670
Support
1649 / 1645 / 1641
Possible Range
1645 to 1665
Strategy
Long positions may be opened above 1653 with targets at 1659/1665 and stop-loss at 1648
Short positions may be opened below 1653 with targets at 1649/1645 and stop-loss at 1658

FKLI Aug month rose 7.5 points or 0.46% to close higher at 1654. Corporate earnings reports improved market sentiment, driving the FBM KLCI to close higher and reach its highest level in nearly four years on Tuesday, despite a generally weak broader market.

Overnight Dow Jones rose 9 points to 41250. The S&P 500 closed higher, while the Dow Jones reached a record high. This positive movement came ahead of Nvidia’s highly anticipated quarterly report on Wednesday and upcoming economic data later in the week, which could provide insights into potential interest rate cuts.

Tracking the positive performance of US performance, the FKLI potentially supported on upside bias. The immediate support and resistance levels are identified at 1649 and 1659, 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