FKLI
FKLI Spot Month Futures - 17 Sep 2024
Tue, 17-Sep-2024 08:16 am
by Dealing Team • Apex Futures

FKLI
Pivot
1642
Resistance
1648 / 1655 / 1659
Support
1637 / 1633 / 1627
Possible Range
1625 to 1645
Strategy
Long positions may be opened above 1642 with targets at 1648/1655 and stop-loss at 1637
Short positions may be opened below 1642 with targets at 1637/1633 and stop-loss at 1647

FKLI Sep month rose 17 point or 1.04% to close higher at 1647. The FBM KLCI ended on a positive note on Friday, buoyed by optimistic market sentiment, even as regional markets showed varied performance.

Overnight Dow Jones rose 228 points to 41622. The Dow rose, but tech stocks weighed on U.S. indexes and the dollar fell to a one-year low against the yen on Monday. Attention is focused on the Federal Reserve meeting later this week, where a widely anticipated easing cycle is expected. There’s growing speculation that the Fed might cut interest rates by up to half a point to support a smooth economic landing amidst slowing job growth and moderating inflation. The decision is set for Wednesday.

The FKLI potentially trade higher tracking gains on US market. The immediate support and resistance levels are identified at 1637 and 1648, respectively.

(News Source: The Star; Reuters)

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Market Mover
Settlement Rates
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EUR 4.621065 4.624861
CNY 0.577624 0.578108
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