FKLI
FKLI Spot Month Futures - 20 Sep 2024
Fri, 20-Sep-2024 08:23 am
by Dealing Team • Apex Futures

FKLI
Pivot
1667
Resistance
1671 / 1676 / 1680
Support
1664 / 1659 / 1654
Possible Range
1655 to 1675
Strategy
Long positions may be opened above 1667 with targets at 1671/1676 and stop-loss at 1662
Short positions may be opened below 1667 with targets at 1664/1659 and stop-loss at 1672

FKLI Sep month rose 4 points or 0.24% to close higher at 1664. The FBMKLCI closed higher on Thursday, in line with regional markets, as investor sentiment strengthened following the U.S. Federal Reserve's announcement of a half-percentage-point interest rate cut.

Overnight Dow Jones rose 522 points to 42025. The S&P 500 reached a record high close on Thursday, following the Federal Reserve's decision to cut interest rates by 50 basis points and signal the possibility of more cuts ahead. The Dow Jones Industrial Average also hit a record closing high, finishing the session above 42,000 for the first time.

The FKLI likely to supported and trade higher as it broke up form a sideway consolidation beware of any profit taking activities. The immediate support and resistance levels are identified at 1664 and 1671, respectively.

(News Source: NST; Reuters)

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Market Mover
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