FKLI
FKLI Spot Month Futures (PM) - 12 Dec 2024
Thu, 12-Dec-2024 02:01 pm
by Dealing Team • Apex Futures

FKLI
Pivot
1602
Resistance
1605 / 1608 / 1612
Support
1600 / 1597 / 1594
Possible Range
1600 to 1620
Strategy
Long positions may be opened above 1605 with targets at 1608/1612 and stop-loss at 1600
Short positions may be opened below 1605 with targets at 1600/1597 and stop-loss at 1610

FKLI Dec month rose 4 points or 0.25% to closed higher at 1603.5 on midday session. The FBM KLCI rebounded after briefly falling below the 1,600 key support on Thursday, driven by gains in key Asian markets. The regional rally followed a positive performance on Wall Street, fueled by relief that U.S. inflation data met expectations, reinforcing the likelihood of a Federal Reserve rate cut at its upcoming meeting.

We remain our view the index trading within a downward channel in daily chart, any rebound could provide chance for selling, we see the resistant at 1605 to 1606, breaking above could see further higher and potentially to reach 1608 again, however if fail to break could see selling pressure coming in. Immediate support and resistance levels are identified at 1600 and 1605, respectively.

(News Source: The Star)

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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