FKLI
FKLI Spot Month Futures - 2 January 2024
Tue, 02-Jan-2024 09:05 am
by Dealing Team • Apex Futures

FKLI
Pivot
1456
Resistance
1460 / 1467 / 1479
Support
1448 / 1444 / 1433
Possible Range
1448 to 1460
Strategy
Long positions may be opened above 1456 with targets at 1460/1467 and stop-loss at 1451
Short positions may be opened below 1456 with targets at 1448/1444 and stop-loss at 1461

FKLI Jan month fell 8 points or 0.55% to 1452 closed lower. Bursa Malaysia wrapped up 2023 to close at its intraday low at 1,454,66 on Friday compared with the first-day opening this year at 1,488.54, weighed by persistent selling pressure throughout most part the year due to outflow of funds as a result of various rate hikes in the US.

Overnight Dow Jones fell 20 points. U.S. stocks softened on Friday, the last trading day of 2023, capping a robust year-end rally as investors eyed easier monetary policy in the year ahead.

Following the mixed performance of the US market, the FKLI could trade within the range. A break below 1451.5 (yesterday's low) would target 1448/1444. On the flip side, the next resistance is located at 1456 (Pivot), followed by 1460 (R1), and finally 1463 (Yesterday’s high).

(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