FKLI
FKLI Spot Month Futures - 26 Dec 2024
Thu, 26-Dec-2024 08:21 am
by Dealing Team • Apex Futures

FKLI
Pivot
1594
Resistance
1598 / 1602 / 1606
Support
1594 / 1591 / 1587
Possible Range
1590 to 1610
Strategy
Long positions may be opened above 1594 with targets at 1598/1602 and stop-loss at 1589
Short positions may be opened below 1594 with targets at 1591/1587 and stop-loss at 1599

FKLI Dec month rose 6.5 point or 0.41% to closed higher 1596.5. The FBM KLCI extended its positive momentum on Tuesday, closing above the key psychological level of 1,600, driven by sustained buying in utility and industrial blue-chip stocks, according to an analyst.

Overnight Dow Jones rose 390 points to closed higher at 43297. Wall Street's major indexes closed higher Tuesday, with megacap and growth stocks driving gains in a shortened session. The Dow and Nasdaq marked four straight wins, while the S&P 500 extended its streak to three, kicking off the Santa Claus rally. Earlier, the Dow faced its longest losing streak since 1974.

The FKLI remain trading below resistant line and remain within a downward channel. The index in hourly chart trading within a minor sideway consolidation, with top/resistant remain see at 1597 to 1598, while bottom/support at 1587 to 1588. Of the index supported above the middle of the sideway 1592 to 1593, we could see the buying momentum to continue. Beware of any sentiment changes. Immediate support and resistance levels are identified at 1594 and 1598, 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