FKLI
FKLI Spot Month Futures - 12 Nov 2024
Tue, 12-Nov-2024 08:17 am
by Dealing Team • Apex Futures

FKLI
Pivot
1615
Resistance
1615 / 1619 / 1623
Support
1608 / 1604 / 1600
Possible Range
1605 to 1625
Strategy
Long positions may be opened above 1612 with targets at 1615/1619 and stop-loss at 1607
Short positions may be opened below 1612 with targets at 1608/1604 and stop-loss at 1617

FKLI Nov month dropped 10 points or 0.62% to close lower at 1611.5. The FBM KLCI extended its decline as overall market sentiment soured, influenced by mixed regional market performance and a weaker ringgit.

Overnight Dow Jones rose 304 points to close higher at 44293. Wall Street's major indexes hit record highs on Monday, driven by gains in stocks poised to benefit from the potential fiscal policies of Republican President-elect Donald Trump.

Tracking positive performance in overnight US performance, the FKLI market likely to received some support to moving in upward momentum, breaking above 1615 to 1616 could see further higher, however the upside could be limited, technically the index remain showing a downside bias trading. Beware of any sentiment changes. Immediate support and resistance levels are identified at 1608 and 1615, respectively.

(News Source: The Star; Reuters)

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Market Mover
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