FKLI
FKLI Spot Month Futures - 11 Sep 2024
Wed, 11-Sep-2024 08:17 am
by Dealing Team • Apex Futures

FKLI
Pivot
1641
Resistance
1645 / 1649 / 1653
Support
1637 / 1633 / 1629
Possible Range
1630 to 1650
Strategy
Long positions may be opened above 1641 with targets at 1645/1649 and stop-loss at 1636
Short positions may be opened below 1641 with targets at 1637/1633 and stop-loss at 1646

FKLI Sep month rose 6 points or 0.37% to close higher at 1643. The FBM KLCI ended its six-day losing streak on Tuesday, buoyed by bargain hunters and positive sentiment from major Asian markets, which were lifted by strong Chinese economic data and gains on Wall Street.

Overnight Dow Jones dropped 92 points to 40736. The Dow dropped on Tuesday, while the S&P 500 and Nasdaq gained ground. Brent crude prices hit a 3.5-year low amid concerns over weakening global demand, with key inflation data due the following day. Market participants were also preparing for the Labor Department's consumer price index report and the first debate between Vice President Kamala Harris and former President Donald Trump, who are in a tightly contested race for the White House.

The FKLI likely trades in downside bias due to profit taking activities. The immediate support and resistance levels are identified at 1637 and 1645, respectively.

(News Source: The Star; Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.226942 4.260444
EUR 4.723982 4.728876
CNY 0.598324 0.598990
HKD 0.542537 0.546362
SGD 3.269503 3.292710