FKLI
FKLI Spot Month Futures - 14 Oct 202
Mon, 14-Oct-2024 08:27 am
by Dealing Team • Apex Futures

FKLI
Pivot
1641
Resistance
1641 / 1645 / 1649
Support
1635 / 1632 / 1628
Possible Range
1630 to 1650
Strategy
Long positions may be opened above 1641 with targets at 1645/1649 and stop-loss at 1636
Short positions may be opened below 1641 with targets at 1635/1632 and stop-loss at 1646

FKLI Oct month dropped 8 points 0.49% to close lower at 1638. The FBM KLCI fell sharply on Friday, driven down by losses, especially from Public Bank, amid broader declines across the region.

Overnight Dow Jones rose 409 points to close higher at 42863. The S&P 500 and the Dow reached record closing highs on Friday, bolstered by strong quarterly results from financial stocks. Additionally, the latest inflation data heightened expectations for a U.S. Federal Reserve rate cut in November.

Tracking the bullish performance in US performance, FKLI index could trade in upside bias, if breaking above 1641 and 1642 could see further higher, otherwise will remain in sideway consolidation. Beware of any sentiment changes. Immediate support and resistance levels are identified at 1635 and 1641, respectively.

(News Source: The Star; Reuters)

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