FKLI
FKLI Spot Month Futures - 27 Dec 2024
Fri, 27-Dec-2024 08:21 am
by Dealing Team • Apex Futures

FKLI
Pivot
1604
Resistance
1608 / 1612 / 1617
Support
1604 / 1600 / 1597
Possible Range
1600 to 1620
Strategy
Long positions may be opened above 1604 with targets at 1608/1612 and stop-loss at 1599
Short positions may be opened below 1604 with targets at 1600/1597 and stop-loss at 1609

FKLI Dec month rose 8.5 point or 0.53% to closed higher 1605. The FBM KLCI continued its upward momentum from the Santa Claus rally, with the FBM KLCI marking its fourth consecutive session of gains. The Santa Claus rally is a market phenomenon where stock prices typically increase during the final week of December, often extending into the new year.

Overnight Dow Jones rose 28 points to closed higher at 43325. The Dow edged higher on Thursday, marking a five-session winning streak despite light volumes and pressure from rising U.S. Treasury yields on tech megacaps. Meanwhile, the Nasdaq and S&P 500 dipped slightly, snapping the Nasdaq's four-session and the S&P's three-session streaks of gains

The FKLI broken up from the resistant range of downward channel at 1604 to 1603, now serve as support line, we anticipate the index will continue to trading above the support range for coming session, with buy on retracement could consider as main plan. Resistant see at 1609 to 1608, breaking above this line could see further higher, otherwise the index could face seme selling pressure at the resistant range. Beware of any sentiment changes. Immediate support and resistance levels are identified at 1604 and 1608, 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