FKLI
FKLI Spot Month Futures - 7 Nov 2024
Thu, 07-Nov-2024 08:09 am
by Dealing Team • Apex Futures

FKLI
Pivot
1635
Resistance
1638 / 1642 / 1647
Support
1633 / 1629 / 1625
Possible Range
1628 to 1648
Strategy
Long positions may be opened above 1633 with targets at 1638/1642 and stop-loss at 1628
Short positions may be opened below 1633 with targets at 1629/1625 and stop-loss at 1638

FKLI Nov month rose 11.5 points or 0.71% to close higher at 1636.5. The FBM KLCI closed higher on Wednesday, supported by a boost in risk appetite after Bank Negara kept the overnight policy rate (OPR) steady at 3%. This came amid Donald Trump's claimed victory in the U.S. presidential election, which helped strengthen the US dollar.

Overnight Dow Jones rose 1508 points to close higher at 43729. Wall Street surged to record highs on Wednesday, with major stock markets globally also rallying. Bitcoin hit an all-time high, and the dollar was on track for its largest one-day gain in four years following Donald Trump's election as U.S. president.

Tracking positive performance in overnight US performance, we could see FKLI to continue to trade in positive momentum, with resistant see at 1638 to 1639, breaking this range again could see further higher. Immediate support and resistance levels are identified at 1633 and 1638, 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