FKLI
FKLI Spot Month Futures - 3 January 2024
Wed, 03-Jan-2024 09:00 am
by Dealing Team • Apex Futures

FKLI
Pivot
1451
Resistance
1456 / 1459 / 1468
Support
1448 / 1442 / 1434
Possible Range
1448 to 1456
Strategy
Long positions may be opened above 1451 with targets at 1456/1459 and stop-loss at 1446
Short positions may be opened below 1451 with targets at 1448/1442 and stop-loss at 1456

FKLI Jan month rose 1.5 points or 0.10% to 1453.5 closed higher. Bursa Malaysia closed marginally lower on Tuesday, the first trading day of the year, due to a lack of buying interest amid subdued market performance across the region.

Overnight Dow Jones rose 25 points. U.S. stocks closed lower on Tuesday to start the new trading year, as investors readjusted expectations for the aggressiveness of the Federal Reserve in cutting interest rates this year, while a downgrade of Apple also weighed heavily.

Following the mixed performance of the US market, the FKLI could trade within the range. A break above 1453.5 (yesterday's high) would target 1456/1459. On the flip side, the next support is located at 1451 (Pivot), followed by 1448 (S1), and finally 1445 (Yesterday’s low).

(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