FKLI
FKLI Spot Month Futures - 18 Dec 2024
Wed, 18-Dec-2024 08:13 am
by Dealing Team • Apex Futures

FKLI
Pivot
1595
Resistance
1595 / 1599 / 1604
Support
1590 / 1586 / 1582
Possible Range
1585 to 1605
Strategy
Long positions may be opened above 1590 with targets at 1595/1599 and stop-loss at 1585
Short positions may be opened below 1590 with targets at 1586/1582 and stop-loss at 1595

FKLI Dec month dropped 16.5 points or 1.03% to closed lower at 1590.5. The FBM KLCI closed significantly lower for the second straight session on Tuesday, amid mixed performance in regional markets.

Overnight Dow Jones dropped 267 points to closed lower at 43449. U.S. stocks fell on Tuesday, with the Dow declining for a ninth consecutive session, as investors turned cautious ahead of the Federal Reserve's final policy announcement of the year following economic data showing robust consumer spending.

The FKLI remain trading below resistant line and remain within a downward channel, tracking the bearish sentiment of regional market, we anticipate the index to remain in downside bias trading and below 1600, any rebound could provide opportunity for sell, with current support at 1590 to 1588, breaking below could potentially bring the index to 1585 range. Beware of any sentiment changes. Immediate support and resistance levels are identified at 1590 and 1595, respectively.

(News Source: The Star; Reuters)

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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