FKLI
FKLI Spot Month Futures - 19 Nov 2024
Tue, 19-Nov-2024 08:13 am
by Dealing Team • Apex Futures

FKLI
Pivot
1598
Resistance
1603 / 1606 / 1611
Support
1598 / 1594 / 1590
Possible Range
1590 to 1610
Strategy
Long positions may be opened above 1597 with targets at 1603/1606 and stop-loss at 1592
Short positions may be opened below 1597 with targets at 1594/1590 and stop-loss at 1602

FKLI Nov month rose 7.5 points or 0.47% to close higher at 1602. The FBM KLCI bounced back to reclaim the 1,600-point mark, despite mixed performances across regional markets.

Overnight Dow Jones dropped 55 points to close lower at 43389. The Nasdaq and S&P 500 ended higher on Monday, recouping some losses as investors looked ahead to quarterly earnings reports from AI leader Nvidia and Tesla. Both stocks surged on expectations of potential favorable policy changes under the incoming Trump administration.

Tracking mixed performance in overnight US performance, the FKLI could trade within the range of downward channel, the index latest hovering at the bottom of the channel, with support range see at 1598 to 1596, if supported potentially to trade higher, if fail to support could trigger another selling pressure. Beware of any sentiment changes. Immediate support and resistance levels are identified at 1598 and 1603, respectively.

(News Source: The Star; Reuters)

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