FKLI
FKLI Spot Month Futures - 4 Nov 2024
Mon, 04-Nov-2024 08:16 am
by Dealing Team • Apex Futures

FKLI
Pivot
1602
Resistance
1608 / 1612 / 1615
Support
1602 / 1598 / 1594
Possible Range
1595 to 1615
Strategy
Long positions may be opened above 1608 with targets at 1612/1615 and stop-loss at 1603
Short positions may be opened below 1608 with targets at 1602/1598 and stop-loss at 1613

FKLI Nov month rose 1.5 points or 0.09% to close higher at 1605. The FBM A surge in plantation stocks, particularly SD Guthrie, driven by a rise in crude palm oil (CPO) prices to a new 28-month high, helped push Bursa Malaysia’s benchmark index above the crucial psychological support level of 1,600 on Friday.

Overnight Dow Jones rose 288 points to close higher at 42052. Wall Street's major indexes closed higher on Friday, recovering from the previous day's sell-off as strong earnings from Amazon offset a notable decline in U.S. job growth for October.

Tracking the positive performance in overnight US performance, FKLI potentially trading within a range, we see the resistant range at 1608, trading below 1608 could remain in downside bias, if breaking above could see further higher. Immediate support and resistance levels are identified at 1602 and 1608, 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