FKLI
FKLI Spot Month Futures (PM) - 17 Dec 2024
Tue, 17-Dec-2024 02:20 pm
by Dealing Team • Apex Futures

FKLI
Pivot
1601
Resistance
1601 / 1604 / 1608
Support
1598 / 1594 / 1590
Possible Range
1595 to 1615
Strategy
Long positions may be opened above 1601 with targets at 1604/1608 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 dropped 9 points or 0.56% to closed lower at 1598 on midday session. The FBM KLCI stayed in negative territory at midday amid cautious sentiment, with investors closely monitoring the US central bank's outlook for clues on the interest rate path in 2025.

The FKLI index remain in trading sell on rebound mode, as the index back into the range of downward channel. If the first support of 1598 to 1597 unable to hold, we might see further downside and potentially move toward next support range, if the index first support hold, there is likely to continue in sideway consolidation trading. Immediate support and resistance levels are identified at 1598 and 1601, respectively.

(News Source: The Star)

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