FKLI
FKLI Spot Month Futures - 2 Jan 2025
Thu, 02-Jan-2025 08:37 am
by Dealing Team • Apex Futures

FKLI
Pivot
1640
Resistance
1645 / 1648 / 1652
Support
1640 / 1636 / 1632
Possible Range
1630 to 1650
Strategy
Long positions may be opened above 1640 with targets at 1645/1636 and stop-loss at 1635
Short positions may be opened below 1640 with targets at 1636/1632 and stop-loss at 1645

FKLI Jan month rose 6 point or 0.37% to closed higher 1642. The FBM KLCI rose 0.3% to close at 1,642.33, supported by year-end window dressing activities. The index concluded 2024 with a solid annual gain of 12.9%.

Overnight Dow Jones dropped 29 points to closed lower at 42544. Wall Street ended lower on Tuesday as investors wrapped up a remarkable year for equities, driven to record highs by the artificial intelligence boom and the U.S. Federal Reserve's first interest rate cuts in over three years. The three major U.S. stock indexes finished in negative territory, closing out a quiet, low-volume session in stark contrast to the eventful year that preceded it.

The FKLI index trading higher for the 5 consecutive sessions, reached the high at 1647 and see some pull back, the previous session closing is below 1643 to 1645 range, which is the crucial resistant, top of the sideway consolidation range. We may see profit taking activities for today session, with support see at 1640 to 1639, if breaking below the index could see further downside movement but limited losses.  Immediate support and resistance levels are identified at 1640 and 1645, respectively.

(News Source: The Star; Reuters)

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Market Mover
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