FKLI
FKLI Spot Month Futures - 4 Dec 2024
Wed, 04-Dec-2024 08:16 am
by Dealing Team • Apex Futures

FKLI
Pivot
1608
Resistance
1608 / 1611 / 1615
Support
1605 / 1601 / 1597
Possible Range
1605 to 1625
Strategy
Long positions may be opened above 1605 with targets at 1608/1611 and stop-loss at 1600
Short positions may be opened below 1605 with targets at 1601/1597 and stop-loss at 1610

FKLI Dec month rose 7 points or 0.44% to closed higher at 1608. The FBM KLCI closed above the 1,600 level, finishing the session on a high note as bargain hunting lifted the index following a series of lackluster performances.

Overnight Dow Jones dropped 76 points to closed lower at 44705. The S&P 500 and Nasdaq edged to record closing highs on Tuesday, driven by continued gains in tech-related stocks, as investors anticipated upcoming jobs data. Meanwhile, the Dow ended the day with a slight decline.

The FKLI remain trading within a downward channel in daily chart. the index hovering at the area of resistant at 1607 to 1608, which is the top of sideway consolidation. Breaking above potentially sees further higher, crucial support range see at 1605 to 1604, if the index pull back and supported, trader may consider buy on retracement. Beware of any sentiment changes. Immediate support and resistance levels are identified at 1605 and 1608, 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