FKLI
FKLI Spot Month Futures - 21 Oct 202
Mon, 21-Oct-2024 08:24 am
by Dealing Team • Apex Futures

FKLI
Pivot
1644
Resistance
1648 / 1652 / 1656
Support
1642 / 1638 / 1634
Possible Range
1640 to 1660
Strategy
Long positions may be opened above 1645 with targets at 1648/1652 and stop-loss at 1640
Short positions may be opened below 1645 with targets at 1642/1638 and stop-loss at 1650

FKLI Oct month dropped 2.5 points 0.15% to close lower at 1645. The FBMKLCI mostly traded higher in the past week, influenced by Wall Street trends, regional market performances, and the Budget 2025 announcement.

Overnight Dow Jones rose 36 points to close higher at 43275. Tech stocks lifted Wall Street to a higher close, while crude prices experienced their largest weekly decline in a month on Friday. Investors overlooked mixed earnings reports, focusing instead on strong results from Netflix and Beijing's measures to stimulate Chinese demand. Meanwhile, gold surpassed the $2,700 mark for the first time in history.

Tracking the mildly bullish performance in US performance, FKLI index could trade in upside bias within a sideway consolidation, if breaking above 1647 and 1648 could see further higher, Immediate support and resistance levels are identified at 1642 and 1648, 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
SGD 3.083269 3.108163