FKLI
FKLI Spot Month Futures - 10 Oct 2024
Thu, 10-Oct-2024 08:21 am
by Dealing Team • Apex Futures

FKLI
Pivot
1639
Resistance
1642 / 1646 / 1649
Support
1636 / 1633 / 1629
Possible Range
1630 to 1650
Strategy
Long positions may be opened above 1639 with targets at 1642/1646 and stop-loss at 1634
Short positions may be opened below 1639 with targets at 1636/1633 and stop-loss at 1644

FKLI Oct month dropped 1 point or 0.06% to close almost flat at 1635.5. The FBM KLCI ended the day flat on Wednesday, with caution influencing sentiment amid a mixed performance in regional markets, according to an analyst.

Overnight Dow Jones rose 431 points to close higher at 42512. Wall Street stocks rose on Wednesday, with the S&P 500 and the Dow reaching record closing highs following the release of Federal Reserve meeting minutes, and in anticipation of September inflation data and the upcoming earnings season.

Tracking the positive performance in US performance, FKLI index could remain in sideway consolidation and with upside bias, breaking above 1639 to 1640 could see further higher, trader to beware of any sentiment changes. Immediate support and resistance levels are identified at 1636 and 1642, respectively.

(News Source: The Star; Reuters)

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Market Mover
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