FKLI
FKLI Spot Month Futures - 19 Dec 2024
Thu, 19-Dec-2024 08:21 am
by Dealing Team • Apex Futures

FKLI
Pivot
1593
Resistance
1597 / 1600 / 1603
Support
1593 / 1589 / 1586
Possible Range
1580 to 1600
Strategy
Long positions may be opened above 1593 with targets at 1597/1600 and stop-loss at 1588
Short positions may be opened below 1593 with targets at 1589/1586 and stop-loss at 1598

FKLI Dec month rose 5.5 points or 0.35% to closed higher at 1596. The FBM KLCI rebounded on Wednesday, ending a two-day losing streak amid broadly positive regional markets.

Overnight Dow Jones dropped 1123 points to closed lower at 42326. Wall Street closed sharply lower on Wednesday, with the Dow plunging over 1,100 points after the U.S. Federal Reserve delivered an expected rate cut but indicated a slower pace of further cuts in the coming year.

The FKLI remain trading below resistant line and remain within a downward channel, tracking the bearish sentiment of US 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 1592 to 1593, breaking below could potentially bring the index to 1585 range. Beware of any sentiment changes. Immediate support and resistance levels are identified at 1593 and 1597, 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