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

FKLI
Pivot
1660
Resistance
1664 / 1668 / 1673
Support
1657 / 1653 / 1647
Possible Range
1645 to 1665
Strategy
Long positions may be opened above 1660 with targets at 1664/1668 and stop-loss at 1655
Short positions may be opened below 1660 with targets at 1657/1653 and stop-loss at 1665

FKLI Sep month rose 14.5 point or 0.88% to close higher at 1662. The FBM KLCI ended Tuesday on a high, with several stocks hitting their limit highs, fueled by positive sentiment.

Overnight Dow Jones dropped 15 points to 41606. U.S. stocks closed almost flat on Tuesday, relinquishing earlier gains that had lifted the S&P 500 and Dow Jones Industrial Average to record highs. Investors are anticipating the first Federal Reserve rate cut in 4.5 years. During the session, the S&P 500 reached 5,670.81, buoyed by new economic data that alleviated concerns about a severe slowdown in the U.S. economy.

The FKLI likely to remain in upside bias trading, any retracement could provide buying opportunity. The immediate support and resistance levels are identified at 1657 and 1664, respectively.

(News Source: The Star; Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 3.939538 3.966364
EUR 4.621065 4.624861
CNY 0.577624 0.578108
HKD 0.502626 0.506063
SGD 3.082334 3.103499