FKLI
FKLI Spot Month Futures - 24 Sep 2024
Tue, 24-Sep-2024 08:22 am
by Dealing Team • Apex Futures

FKLI
Pivot
1664
Resistance
1668 / 1671 / 1675
Support
1664 / 1659 / 1654
Possible Range
1655 to 1675
Strategy
Long positions may be opened above 1664 with targets at 1668/1671 and stop-loss at 1659
Short positions may be opened below 1664 with targets at 1659/1654 and stop-loss at 1669

FKLI Sep month dropped 13.5 points or 0.81% to close lower at 1660.5. On Monday, the FBM KLCI started positively with a higher opening, but ultimately encountered mild profit-taking, closing in negative territory.

Overnight Dow Jones rose 61 points to 42124. U.S. stocks closed modestly higher on Monday as investors assessed the potential impact of last week’s Federal Reserve rate cut. Gains were fueled by comments from Fed officials and stable factory activity data, following a strong rally that defied September's historical weakness for equities.

The FKLI likely to trading within upward consolidation with upside bias, beware of any profit taking activities. The immediate support and resistance levels are identified at 1664 and 1668, respectively.

(News Source: NST; Reuters)

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Market Mover
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