FKLI
FKLI Spot Month Futures - 12 Sep 2024
Thu, 12-Sep-2024 08:18 am
by Dealing Team • Apex Futures

FKLI
Pivot
1628
Resistance
1634 / 1637 / 1640
Support
1626 / 1623 / 1619
Possible Range
1625 to 1645
Strategy
Long positions may be opened above 1630 with targets at 1634/1637 and stop-loss at 1625
Short positions may be opened below 1630 with targets at 1626/1623 and stop-loss at 1635

FKLI Sep month dropped 12 points or 0.73% to close lower at 1631. The FBM KLCI fell on Wednesday, reflecting a similar trend seen among its regional counterparts. Investors were cautious in anticipation of upcoming U.S. inflation data and the highly anticipated U.S. presidential debate.

Overnight Dow Jones rose 124 points to 40861. All three major U.S. stock indexes ended the day higher on Wednesday. Gains in the technology sector helped counteract investor disappointment from an early morning inflation report, which dampened expectations for a 50 basis point interest rate cut by the Federal Reserve next week.

The FKLI likely trades in sideway consolidation with the price pointing to upside. The immediate support and resistance levels are identified at 1626 and 1634, respectively.

(News Source: The Star; Reuters)

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Market Mover
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EUR 4.723982 4.728876
CNY 0.598324 0.598990
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