FKLI
FKLI Spot Month Futures (PM) - 20 Nov 2024
Wed, 20-Nov-2024 02:04 pm
by Dealing Team • Apex Futures

FKLI
Pivot
1598
Resistance
1598 / 1601 / 1604
Support
1594 / 1590 / 1587
Possible Range
1590 to 1610
Strategy
Long positions may be opened above 1598 with targets at 1601/1604 and stop-loss at 1593
Short positions may be opened below 1598 with targets at 1594/1590 and stop-loss at 1603

FKLI Nov month dropped 9.5 points 0.59% to closed lower at 1595 on midday session. The FBM KLCI turned negative at midday, weighed down by escalating tensions in Ukraine and concerns over potential disappointment from Nvidia's third-quarter results in the AI sector.

The FKLI breaking below the bottom of sideway consolidation at 1598 to 1596 and continue to trade lower, now serve as resistant range. The index likely to pull back to the resistant and sell down again, hence sell on rebound are recommended for the next session, beware of any sentiment changes. The immediate support and resistance levels are identified at 1594 and 1598 respectively.

(News Source: The Star)

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