FKLI
FKLI Spot Month Futures - 5 Nov 2024
Tue, 05-Nov-2024 07:59 am
by Dealing Team • Apex Futures

FKLI
Pivot
1614
Resistance
1618 / 1621 / 1626
Support
1612 / 1609 / 1604
Possible Range
1605 to 1625
Strategy
Long positions may be opened above 1612 with targets at 1618/1621 and stop-loss at 1607
Short positions may be opened below 1612 with targets at 1609/1604 and stop-loss at 1617

FKLI Nov month rose 14 points or 0.87% to close higher at 1619. The FBM KLCI ended the Monday session higher, with equities rebounding from last week's decline. However, investors remained cautious ahead of the U.S. presidential election and the Federal Reserve's upcoming decision on interest rates.

Overnight Dow Jones dropped 257 points to close lower at 41794. U.S. stocks ended slightly lower on Monday following a volatile session, as investors braced for a pivotal week with the upcoming U.S. presidential election and the Federal Reserve's policy announcement. With polls indicating a tight race, presidential candidates Donald Trump and Kamala Harris fought for an advantage on the final full day of campaigning, and the outcome may take days to be determined.

Tracking negative performance in overnight US performance, we could see some pullback in FKLI trading from previous session, with support see at 1613 to 1611, hold above this range could see buying opportunity and continue to trade higher. Otherwise, it will turn to selling. Immediate support and resistance levels are identified at 1613 and 1618, 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