FKLI
FKLI Spot Month Futures - 6 Nov 2024
Wed, 06-Nov-2024 08:04 am
by Dealing Team • Apex Futures

FKLI
Pivot
1626
Resistance
1627 / 1630 / 1634
Support
1623 / 1619 / 1615
Possible Range
1620 to 1640
Strategy
Long positions may be opened above 1623 with targets at 1627/1630 and stop-loss at 1618
Short positions may be opened below 1623 with targets at 1619/1615 and stop-loss at 1628

FBM KLCI benchmark index rose to its intraday high on market expectations that Bank Negara’s Monetary Policy Committee (MPC) will keep the Overnight Policy Rate (OPR) unchanged at its meeting schedule on 6 Nov.

Overnight Dow Jones rose 427 points to close higher at 42221. U.S. stocks closed sharply higher in a broad rally on Tuesday, driven by data pointing to a strong economy. However, investors were on edge, bracing for volatile trading as voting continued in a highly contested U.S. presidential election.

Tracking positive performance in overnight US performance, we could see FKLI to trade in positive momentum, with resistant see at 1626 to 1627, breaking above could see further higher. Immediate support and resistance levels are identified at 1623 and 1627, respectively.

(News Source: The Star; Reuters)

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