FKLI
FKLI Spot Month Futures - 7 Oct 2024
Mon, 07-Oct-2024 08:24 am
by Dealing Team • Apex Futures

FKLI
Pivot
1632
Resistance
1635 / 1639 / 1642
Support
1627 / 1624 / 1619
Possible Range
1625 to 1645
Strategy
Long positions may be opened above 1630 with targets at 1635/1639 and stop-loss at 1625
Short positions may be opened below 1630 with targets at 1627/1624 and stop-loss at 1635

FKLI Oct month dropped 10 points or 0.61% to close lower at 1627.5. The FBM KLCI diverged from the upward trend observed in many regional stock markets, closing in the red as geopolitical tensions in the Middle East weighed on investor sentiment on Friday.

Overnight Dow Jones rose 341 points to 42352. Dow hit a record closing high on Friday, and the Nasdaq gained over 1%, thanks to a stronger-than-expected jobs report that eased concerns about the economy. September saw the most job gains in six months, with the unemployment rate falling to 4.1%.

Tracking the positive performance in US performance, FKLI index could remain in sideway consolidation, supported above the bottom with technical buying coming in, breaking above 1635 to 1636 could see further upside, otherwise supported above could see recovery move. Immediate support and resistance levels are identified at 1627 and 1635, respectively.

(News Source: The Star, CNBC)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 3.936314 3.967989
EUR 4.615974 4.625491
CNY 0.577616 0.578239
HKD 0.502266 0.506322
SGD 3.083269 3.108163