FKLI
FKLI Spot Month Futures - 9 Dec 2024
Mon, 09-Dec-2024 08:12 am
by Dealing Team • Apex Futures

FKLI
Pivot
1615
Resistance
1618 / 1622 / 1627
Support
1612 / 1608 / 1604
Possible Range
1610 to 1630
Strategy
Long positions may be opened above 1615 with targets at 1618/1622 and stop-loss at 1610
Short positions may be opened below 1615 with targets at 1612/1608 and stop-loss at 1620

FKLI Dec month closed flat to end at 1614. The FTSE Bursa Malaysia KLCI (FBM KLCI) closed the week marginally lower on Friday, retreating from recent gains as profit-taking activity prevailed amid increased investor caution.

Overnight Dow Jones dropped 123 points to closed lower at 44642. Global stocks rose as investors bet on a U.S. interest rate cut this month following strong November payrolls data, while the euro dipped against the dollar amid political turmoil in France. Futures now place an 85% chance of a 25 basis point rate cut at the Fed's December meeting, up from 68% earlier.

The FKLI remain consolidating at the resistant line of a downward channel in daily chart at 1616 to 1618 range (also top of the sideway tdaing). We might continue of sideway consolidation trading, with support spot at 1612 to 1611, potential buying area if supported. If fail to support could turn to sell area. Immediate support and resistance levels are identified at 1612 and 1618, 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