FKLI
FKLI Spot Month Futures - 6 Sep 2024
Fri, 06-Sep-2024 08:16 am
by Dealing Team • Apex Futures

FKLI
Pivot
1647
Resistance
1651 / 1657 / 1664
Support
1643 / 1639 / 1634
Possible Range
1635 to 1655
Strategy
Long positions may be opened above 1647 with targets at 1651/1657 and stop-loss at 1642
Short positions may be opened below 1647 with targets at 1643/1639 and stop-loss at 1652

FKLI Sep month dropped 7 points or 0.42% to close lower at 1653. The FBM KLCI closed lower, marking its fourth consecutive session in negative territory, as worries about the growth outlook in the US dampened market sentiment.

Overnight Dow Jones dropped 219 points to 40755. The benchmark S&P 500 index and the Dow ended lower on Thursday amid volatile trading, as a brief uplift from a series of economic reports quickly faded. Investors turned their attention to the key jobs data set for release on Friday. Meanwhile, the Nasdaq ended slightly higher. Markets were on edge ahead of the comprehensive nonfarm payrolls report, which is expected to influence the Federal Reserve's decision on potentially starting rate cuts later this month.

The FKLI remain to trading in downward channel consolidation with downside bias. The immediate support and resistance levels are identified at 1643 and 1651, respectively.

(News Source: The Star; Reuters)

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Market Mover
Settlement Rates
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USD 4.283853 4.317705
EUR 4.765844 4.774924
CNY 0.605865 0.606556
HKD 0.549396 0.553768
SGD 3.299365 3.325824