FKLI
FKLI Spot Month Futures - 1 Oct 2024
Tue, 01-Oct-2024 08:26 am
by Dealing Team • Apex Futures

FKLI
Pivot
1654
Resistance
1656 / 1659 / 1663
Support
1651 / 1648 / 1645
Possible Range
1645 to 1665
Strategy
Long positions may be opened above 1656 with targets at 1659/1663 and stop-loss at 1651
Short positions may be opened below 1656 with targets at 1651/1648 and stop-loss at 1661

FKLI Oct month dropped 5 points or 0.30% to close lower at 1653.5. The FBM KLCI finished lower on the last trading day of the quarter but remained above its intraday low, amid mixed performance in regional markets.

Overnight Dow Jones rose 17 points to 42330 The S&P 500 reached a record high close on Monday, recovering from a brief dip after Federal Reserve Chair Jerome Powell indicated that the central bank is not rushing to implement further interest rate cuts. The Dow also achieved an all-time closing high, with all three major U.S. stock indexes posting gains for the quarter and the month. 

Tracking the positive performance in US performance, FKLI index remain supported in daily time frame, however we might see further correction on the local index and potentially trading below 1660 for short term period of time. Immediate support and resistance levels are identified at 1650 and 1656, respectively.

(News Source: The Star; Reuters)

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