FKLI
FKLI Spot Month Futures - 14 December 2023
Thu, 14-Dec-2023 08:54 am
by Dealing Team • Apex Futures

FKLI
Pivot
1449
Resistance
1451 / 1453 / 1458
Support
146 / 1444 / 1440
Possible Range
1446 to 1458
Strategy
Long positions may be opened above 1451 with targets at 1453/1458 and stop-loss at 1446
Short positions may be opened below 1449 with targets at 1446/1444 and stop-loss at 1454

FKLI Dec month rose 1.5 points or 0.10% to 1448 closed higher. Bursa Malaysia reversed earlier losses to finish in positive territory due to late buying after experiencing choppy trading throughout the day

Overnight Dow Jones rose 512 points. The Dow Jones industrial average hit its first record closing high since January 2022 and the S&P 500 and Nasdaq rallied more than 1% each on Wednesday after the Federal Reserve signaled that its interest rate-hiking policy is at an end and that it sees lower borrowing costs in 2024.

Following the bullish performance of the US market, the FKLI could trade higher. A break above 1451 (yesterday's high) would target 1453/1458. On the flip side, the next support is located at 1446.5 (Yesterday’s low), followed by 1444 (S2), and finally 1440 (S3).

(News Source: The Edge; Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.431349 4.466109
EUR 4.725230 4.729698
CNY 0.615997 0.616606
HKD 0.569934 0.573901
SGD 3.315285 3.338615