FKLI
FKLI Spot Month Futures - 11 Dec 2024
Wed, 11-Dec-2024 08:21 am
by Dealing Team • Apex Futures

FKLI
Pivot
1608
Resistance
1612 / 1615 / 1619
Support
1608 / 1604 / 1600
Possible Range
1605 to 1625
Strategy
Long positions may be opened above 1608 with targets at 1612/1615 and stop-loss at 1603
Short positions may be opened below 1608 with targets at 1604/1600 and stop-loss at 1613

FKLI Dec month dropped 2.0 points or 0.12% to closed lower at 1609. Bursa Malaysia closed lower on Tuesday in thin trading, with volume dipping below three billion shares, as weak Wall Street performance and investor caution ahead of key U.S. inflation data weighed on sentiment ahead of the Dec 18 rate cut decision.

Overnight Dow Jones dropped 154 points to closed lower at 44247. Wall Street's main indexes ended lower on Tuesday as losses in the technology sector outweighed gains in communications services, with investors awaiting key inflation reports that could shape the Federal Reserve's next interest rate moves.

The FKLI remain trading below the resistant line of downward channel in daily chart. The chart could remain in downward bias trading, with support see at 1607 to 1608 range, breaking below could see further lower toward 1605 to 1604 range. If supported we might see buying opportunity. Immediate support and resistance levels are identified at 1608 and 1612, respectively.

(News Source: The Star; Reuters)

Read more details in:

Disclaimer

The report is for internal and private circulation only and shall not be reproduced either in part or otherwise without the prior written consent of Apex Securities Berhad. The opinions and information contained herein are based on available data believed to be reliable. It is not to be construed as an offer, invitation or solicitation to buy or sell the securities covered by this report.

Opinions, estimates and projections in this report constitute the current judgment of the author. They do not necessarily reflect the opinion of Apex Securities Berhad and are subject to change without notice. Apex Securities Berhad has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

Apex Securities Berhad does not warrant the accuracy of anything stated herein in any manner whatsoever and no reliance upon such statement by anyone shall give rise to any claim whatsoever against Apex Securities Berhad. Apex Securities Berhad may from time to time have an interest in the company mentioned by this report. This report may not be reproduced, copied or circulated without the prior written approval of Apex Securities Berhad.

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