FKLI
FKLI Spot Month Futures (PM) - 11 Dec 2024
Wed, 11-Dec-2024 01:48 pm
by Dealing Team • Apex Futures

FKLI
Pivot
1602
Resistance
1602 / 1605 / 1608
Support
1597 / 1594 / 1590
Possible Range
1595 to 1615
Strategy
Long positions may be opened above 1602 with targets at 1605/1608 and stop-loss at 1597
Short positions may be opened below 1602 with targets at 1597/1594 and stop-loss at 1607

FKLI Dec month dropped 10.5 points or 0.65% to closed lower at 1598.5 on midday session. The FBM KLCI closed the morning session near the crucial 1,600 support level as profit-taking intensified ahead of a key U.S. inflation report due tonight.

We remain our view the index trading within a downward channel in daily chart, bearish momentum remains intact. Currently hovering at the bottom of downward channel which is also support line at 1597 to 1600, potential moving upside on technical buying, gain could be limited. If index still resisted below 1603 to 1602, trader may remain sell on rebound plan. Immediate support and resistance levels are identified at 1597 and 1602, respectively.

(News Source: The Star)

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