FKLI
FKLI Spot Month Futures - 16 Dec 2024
Mon, 16-Dec-2024 08:24 am
by Dealing Team • Apex Futures

FKLI
Pivot
1606
Resistance
1612 / 1615 / 1619
Support
1606 / 1603 / 1599
Possible Range
1605 to 1625
Strategy
Long positions may be opened above 1609 with targets at 1612/1615 and stop-loss at 1604
Short positions may be opened below 1609 with targets at 1606/1603 and stop-loss at 1614

FKLI Dec month rose 9.5 points or 0.59% to closed higher at 1609.5.  The FBM KLCI remained positive during the early session, poised to break a five-day losing streak despite a regional market slump, amid expectations that U.S. rate cuts may slow in the coming year.

Overnight Dow Jones dropped 86 points to closed lower at 43828. U.S. stocks ended the trading week nearly flat in a quiet session on Friday, with the S&P 500 and Dow recording weekly losses, while the Nasdaq marked its fourth straight week of gains.

The FKLI remain trading within the resistant line of downward channel in daily chart, seem supported above 1606 to 1605, we might see more room for further upside, if breaking above 1611 to 1612, the index could trade further higher. Beware of any sentiment changes. Immediate support and resistance levels are identified at 1606 and 1612, respectively.

(News Source: The Star; Reuters)

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Market Mover
Settlement Rates
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USD 3.936314 3.966986
EUR 4.638033 4.641717
CNY 0.579004 0.579460
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