FKLI
FKLI Spot Month Futures - 28 Oct 2024
Mon, 28-Oct-2024 08:10 am
by Dealing Team • Apex Futures

FKLI
Pivot
1621
Resistance
1621 / 1625 / 1628
Support
1616 / 1611 / 1607
Possible Range
1615 to 1635
Strategy
Long positions may be opened above 1616 with targets at 1621/1625 and stop-loss at 1611
Short positions may be opened below 1616 with targets at 1611/1607 and stop-loss at 1621

FKLI Oct month dropped 16 points or 0.98% to close lower at 1616. The FBM KLCI a experienced continued selling pressure on Friday, leading to a fifth consecutive decline in the benchmark index.

Overnight Dow Jones dropped 259 points to close lower at 42114. The Nasdaq closed higher on Friday, buoyed by megacap stocks as investors anticipated quarterly results from major companies next week. In contrast, the Dow declined due to a drop in banking shares, with Goldman Sachs down 2.27% and McDonald's falling 2.97% amid an E. coli outbreak linked to its hamburgers.

Tracking the mixed performance in US performance, FKLI index could trade within a range. We anticipate some technical buying to coming in, however the gain could be limited, if the index could break above 1621, we might see further higher. Immediate support and resistance levels are identified at 1616 and 1621, respectively.

(News Source: The Star; Reuters)

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Market Mover
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