FKLI
FKLI Spot Month Futures - 13 Sep 2024
Fri, 13-Sep-2024 08:19 am
by Dealing Team • Apex Futures

FKLI
Pivot
1632
Resistance
1637 / 1641 / 1645
Support
1629 / 1625 / 1621
Possible Range
1625 to 1645
Strategy
Long positions may be opened above 1633 with targets at 1637/1641 and stop-loss at 1628
Short positions may be opened below 1633 with targets at 1629/1625 and stop-loss at 1638

FKLI Sep month dropped 0.5 point or 0.03% to close almost flat at 1630.5. The FBM KLCI surrendered its early gains and ended in the red on Thursday, indicating a change in market sentiment despite generally positive performance in regional markets.

Overnight Dow Jones rose 235 points to 41096. Wall Street edged up and gold hit a record high as investors anticipated a Federal Reserve rate cut next week. U.S. stock indexes wavered but closed higher on Thursday, bolstered by a European Central Bank rate cut and hotter-than-expected U.S. producer prices.

The FKLI likely trades in sideway consolidation and supported to trade on upside bias. The immediate support and resistance levels are identified at 1629 and 1637, respectively.

(News Source: The Star; Reuters)

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Market Mover
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