FKLI
FKLI Spot Month Futures - 18 Nov 2024
Mon, 18-Nov-2024 08:18 am
by Dealing Team • Apex Futures

FKLI
Pivot
1598
Resistance
1598 / 1602 / 1606 / 1585
Support
1592 / 1587 / 1583
Possible Range
1585 to 1605
Strategy
Long positions may be opened above 1595 with targets at 1598/1602 and stop-loss at 1590
Short positions may be opened below 1595 with targets at 1592/1587 and stop-loss at 1600

FKLI Nov month dropped 4 points or 0.25% to close lower at 1594.5 Bursa Malaysia experienced continued selling pressure, with the benchmark FBM KLCI closing below the 1,600 mark, following regional market trends.

Overnight Dow Jones dropped 305 points to close lower at 43444. Wall Street's main indexes finished lower on Friday, with the S&P 500 and Nasdaq posting their largest one-day declines in two weeks. The losses were driven by concerns over slower interest rate cuts and investor reactions to U.S. President-elect Donald Trump's cabinet selections.

Tracking negative performance in overnight US performance, the FKLI could continue in downward channel, breaking below 1593 to 1595 could see further lower, next crucial support observe at 1585 to 1575 range, likely to see technical buying if support at the rang. Beware of any sentiment changes. Immediate support and resistance levels are identified at 1592 and 1598, respectively.

(News Source: The Star; Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.449296 4.484012
EUR 4.692599 4.701308
CNY 0.615732 0.616932
HKD 0.571606 0.576092
SGD 3.310067 3.336427