FKLI
FKLI Spot Month Futures - 8 Oct 2024
Tue, 08-Oct-2024 08:20 am
by Dealing Team • Apex Futures

FKLI
Pivot
1632
Resistance
1635 / 1639 / 1642
Support
1627 / 1624 / 1619
Possible Range
1620 to 1640
Strategy
Long positions may be opened above 1632 with targets at 1635/1639 and stop-loss at 1627
Short positions may be opened below 1632 with targets at 1627/1624 and stop-loss at 1637

FKLI Oct month dropped 4.5 points or 0.28% to close lower at 1632. The FBM KLCI finished higher on Monday, buoyed by gains in regional markets, while the ringgit fell to a three-week low against the US dollar.

Overnight Dow Jones dropped 398 points to closed lower at 41954. Wall Street's three major indexes fell around 1% on Monday as Treasury yields rose, with traders cutting back on expectations for Fed interest-rate cuts and worrying about the Middle East conflict's impact on oil prices. Investors are also preparing for Hurricane Milton this week, while relief efforts continue after Hurricane Helene, a Category 4 storm that killed over 200 people across six states.

Tracking the negative performance in US performance, FKLI index could remain in sideway consolidation with downside bias, breaking below 1630 to 1632 could bring the index further lower, trader to beware of any bargain hunting activities. Immediate support and resistance levels are identified at 1627 and 1635, respectively.

(News Source: The Star; Reuters)

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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
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