FKLI
FKLI Spot Month Futures - 21 December 2023
Tue, 26-Dec-2023 09:26 am
by Dealing Team • Apex Futures

FKLI
Pivot
1470
Resistance
1472 / 1476 / 1481
Support
1467 / 1465 / 1459
Possible Range
1465 to 1472
Strategy
Long positions may be opened above 1470 with targets at 1472/1476 and stop-loss at 1465
Short positions may be opened below 1468 with targets at 1465/1459 and stop-loss at 1473

FKLI Dec month fell 0.5 points or 0.03% to 1468.5 closed lower. Bursa Malaysia ceded earlier gains to finish in the negative territory on Wednesday due to profit-taking activities in the late trading session, ending its seven-day winning streak.

Overnight Dow Jones fell 475 point. U.S. stocks closed lower on Wednesday, with the S&P 500 logging its first decline of at least 1% in six weeks, as equities ran into technical resistance levels and turned sharply lower late in the session in the absence of a fresh catalyst.

Following the bearish performance of the US market, the FKLI could trade lower. A break below 1468 (yesterday's low) would target 1465/1459. On the flip side, the next resistance is located at 1470 (Pivot), followed by 1473.5 (Yesterday’s high), and finally 1476 (R2).

(News Source: The Edge; Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.226942 4.260444
EUR 4.723982 4.728876
CNY 0.598324 0.598990
HKD 0.542537 0.546362
SGD 3.269503 3.292710