FKLI
FKLI Spot Month Futures - 23 Oct 202
Wed, 23-Oct-2024 08:13 am
by Dealing Team • Apex Futures

FKLI
Pivot
1644
Resistance
1647 / 1651 / 1654
Support
1642 / 1638 / 1634
Possible Range
1635 to 1655
Strategy
Long positions may be opened above 1644 with targets at 1647/1651 and stop-loss at 1639
Short positions may be opened below 1644 with targets at 1642/1638 and stop-loss at 1649

FKLI Oct month dropped 1 points or 0.06% to close slightly lower at 1642.5. The FBM KLCI closed lower on Tuesday, remaining in its consolidation phase due to a lack of buying momentum.

Overnight Dow Jones dropped 6.71 points to close lower at 42924. U.S. stocks finished mostly flat on Tuesday, though the Nasdaq managed to record a small gain. Investors focused on Treasury yields and awaited additional earnings reports to evaluate the health of American companies.

Tracking the mixed performance in US performance, FKLI index could trade within a range. We anticipate the index to be continuing in sideway consolidation, supported with mildly upside bias. Breaking above 1647 could see further higher. Immediate support and resistance levels are identified at 1642 and 1647, respectively.

(News Source: NST; Reuters)

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