FKLI
FKLI Spot Month Futures - 23 Dec 2024
Mon, 23-Dec-2024 08:25 am
by Dealing Team • Apex Futures

FKLI
Pivot
1592
Resistance
1595 / 1598 / 1603
Support
1588 / 1585 / 1581
Possible Range
1590 to 1610
Strategy
Long positions may be opened above 1592 with targets at 1595/1598 and stop-loss at 1587
Short positions may be opened below 1592 with targets at 1588/1585 and stop-loss at 1597

FKLI Dec month dropped 5.5 point or 5.5% to closed lower 1589.5. The FBM KLCI ended lower on Friday, weighed down by persistent selling pressure and mirroring trends in regional markets.

Overnight Dow Jones surged 498 points to closed higher at 42840. Wall Street rallied on Friday, while the dollar weakened, as unexpectedly mild inflation data allowed investors to set aside concerns over a potential government shutdown and new tariff threats from U.S. President-elect Donald Trump.

The FKLI remain trading below resistant line and remain within a downward channel, tracking the positive performance of US market, we likely to see the index support above 1589 to 1588 range and could trigger buying momentum for today session, but likely limited gain, if breaking above 1595 to 1597, potentially reaching 1599 to 1600 again. Beware of any sentiment changes. Immediate support and resistance levels are identified at 1588 and 1595, respectively.

(News Source: NST; 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