FKLI
FKLI Spot Month Futures - 29 Oct 2024
Tue, 29-Oct-2024 08:03 am
by Dealing Team • Apex Futures

FKLI
Pivot
1610
Resistance
1616 / 1621 / 1625
Support
1610 / 1607 / 1604
Possible Range
1610 to 1630
Strategy
Long positions may be opened above 1610 with targets at 1621/1625 and stop-loss at 1605
Short positions may be opened below 1610 with targets at 1607/1604 and stop-loss at 1615

FKLI Oct month dropped 10 points or 0.62% to close lower at 1606. The FBM KLCI opened the trading day positively but ended lower for the sixth straight session, defying the regional upward trend on Monday session.


Overnight Dow Jones rose 273 points to close higher at 42387. Global stock indexes rose on Monday as investors awaited earnings reports this week from several of the biggest U.S. tech-related companies, while oil prices dropped 6% after Israel's retaliatory strike against Iran at the weekend bypassed oil and nuclear facilities.


Tracking the bullish performance in US performance, FKLI potentially trade in upside bias on technical buying, upside could be limited as the daily chart formation remains bearish and the gain could be limited. If the index could break above 1616, we might see further higher. Immediate support and resistance levels are identified at 1610 and 1616, respectively.
 

(News Source: The Star; Reuters)

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Market Mover
Settlement Rates
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USD 3.936314 3.967989
EUR 4.615974 4.625491
CNY 0.577616 0.578239
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