FKLI
FKLI Spot Month Futures - 25 Sep 2024
Wed, 25-Sep-2024 08:17 am
by Dealing Team • Apex Futures

FKLI
Pivot
1668
Resistance
1672 / 1676 / 1681
Support
1663 / 1659 / 1654
Possible Range
1660 to 1680
Strategy
Long positions may be opened above 1668 with targets at 1672/1676 and stop-loss at 1663
Short positions may be opened below 1668 with targets at 1663/1659 and stop-loss at 1673

FKLI Sep month rose 7 points or 0.42% to close higher at 1667.5. The FBM KLCI closed higher on Tuesday, boosted by gains in regional markets following China's announcement of extensive stimulus measures to support its economy. Meanwhile, the ringgit reached a three-year high.

Overnight Dow Jones rose 83 points to 42208. A major global stock index hit a record high on Tuesday, with copper prices reaching a 10-week peak after China announced stimulus measures. The Dow and S&P 500 also closed at record highs, driven by rising mining stocks. Additionally, the yuan climbed to a 16-month high against the U.S. dollar, while oil prices rose to a three-week high.

The FKLI likely to remain trading within upward consolidation with upside bias, breaking above 1668 to 1670 range could see further higher, beware of any profit taking activities.  Immediate support and resistance levels are identified at 1663 and 1672, 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