FKLI
FKLI Spot Month Futures - 11 Oct 2024
Fri, 11-Oct-2024 08:22 am
by Dealing Team • Apex Futures

FKLI
Pivot
1643
Resistance
1648 / 1652 / 1656
Support
1643 / 1640 / 1637
Possible Range
1635 to 1655
Strategy
Long positions may be opened above 1643 with targets at 1648/1652 and stop-loss at 1638
Short positions may be opened below 1643 with targets at 1640/1637 and stop-loss at 1648

FKLI Oct month rose 10.5 points 0.64% to close higher at 1646. The FBM KLCI closed higher on Thursday, reflecting the strong performance of regional stock markets.

Overnight Dow Jones dropped 57 points to close lower at 42454. Wall Street's main indexes finished lower on Thursday as investors focused on unexpectedly high inflation and unemployment claims for clues about the U.S. economy's health and future interest rate direction.

Tracking the mixed performance in US performance, FKLI index could remain in sideway consolidation and with upside bias, breaking above 1645 to 1646 could see further higher, however gain could be limited, trader to beware of any sentiment changes. Immediate support and resistance levels are identified at 1643 and 1648, respectively.

(News Source: The Star; Reuters)

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Market Mover
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