FKLI
FKLI Spot Month Futures - 3 Dec 2024
Tue, 03-Dec-2024 08:18 am
by Dealing Team • Apex Futures

FKLI
Pivot
1602
Resistance
1603 / 1605 / 1608
Support
1598 / 1595 / 1591
Possible Range
1595 to 1615
Strategy
Long positions may be opened above 1599 with targets at 1603/1605 and stop-loss at 1594
Short positions may be opened below 1599 with targets at 1595/1591 and stop-loss at 1604

16FKLI Dec month rose 6 points or 0.38% to closed higher at 1601. The FBM KLCI gave up most of its earlier gains as investors swiftly took profits amid rising external uncertainties. Meanwhile, plantation stocks continued their rally, driven by the ongoing upward trend in crude palm oil prices.

Overnight Dow Jones dropped 128 points to closed lower at 44782. The Nasdaq and S&P 500 closed at record highs on Monday, driven by tech-related stocks following strong gains in November, as investors anticipated key economic data, including Friday’s monthly jobs report. Meanwhile, the Dow ended the day lower, though both the Dow and S&P 500 posted their largest monthly percentage gains in a year on Friday.

The FKLI remain trading within a downward channel in daily chart. the index faced resistant at 1607 to 1608, which is the top of sideway consolidation and the index could trading further lower if fail to hold at 1601 to 1599 range 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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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