FKLI
FKLI Spot Month Futures - 13 Dec 2024
Fri, 13-Dec-2024 08:16 am
by Dealing Team • Apex Futures

FKLI
Pivot
1600
Resistance
1603 / 1606 / 1609
Support
1598 / 1594 / 1590
Possible Range
1600 to 1620
Strategy
Long positions may be opened above 1601 with targets at 1603/1606 and stop-loss at 1596
Short positions may be opened below 1601 with targets at 1598/1594 and stop-loss at 1606

FKLI Dec month rose 0.5 points or 0.03% to closed almost flat at 1600. The FBM KLCI index faced challenges in sustaining its positive momentum throughout the day, ultimately closing slightly lower due to late selling pressure, despite the upbeat performance of regional markets.


Overnight Dow Jones dropped 234 points to closed lower at 43914. Wall Street fell on Thursday as investors assessed economic data ahead of the Fed's meeting. U.S. producer prices rose more than expected, while higher jobless claims raised concerns about labor market resilience.


The FKLI remain trading below the resistant line of 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 to 1609 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; 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