FKLI
FKLI Spot Month Futures - 25 Nov 2024
Mon, 25-Nov-2024 08:20 am
by Dealing Team • Apex Futures

FKLI
Pivot
1589
Resistance
1591 / 1594 / 1598
Support
1586 / 1583 / 1579
Possible Range
1585 to 1605
Strategy
Long positions may be opened above 1591 with targets at 1594/1598 and stop-loss at 1586
Short positions may be opened below 1591 with targets at 1586/1583 and stop-loss at 1596

FKLI Nov month closed flat to end at 1587.5. The FBM KLCI rebounded on Friday, recovering from three days of losses as investors seized the opportunity to buy undervalued stocks.

Overnight Dow Jones rose 426 points to close higher at 44296. Wall Street closed higher on Friday, with all three major indexes posting weekly gains, as investors were reassured by data showing strong economic activity in the U.S.

Tracking positive performance in overnight US performance, the FKLI could open higher and potentially trading higher with limited gain. We see the resistant range at 1592 to 1592, if breaking above could see further higher. If fail to breaking above, may consider sell plan.  Immediate support and resistance levels are identified at 1586 and 1591, respectively.

(News Source: The Star; Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 3.936314 3.966986
EUR 4.638033 4.641717
CNY 0.579004 0.579460
HKD 0.502535 0.505960
SGD 3.092229 3.113332