FKLI
FKLI Spot Month Futures - 26 February 2024
Mon, 26-Feb-2024 08:18 am
by Futures Dealing • Apex Futures

FKLI
Pivot
1551
Resistance
1555 / 1559 / 1566
Support
1548 / 1544 / 1536
Possible Range
1548 to 1559
Strategy
Long positions may be opened above 1551 with targets at 1555/1559 and stop-loss at 1546
Short positions may be opened below 1551 with targets at 1548/1544 and stop-loss at 1556

FKLI Feb month rose 3.5 points or 0.23% to 1552 closed higher. The FBM KLCI recovered on Friday, albeit marginally, on bargain hunting after two days of decline.

Overnight Dow Jones rose 62 points. The S&P 500 and Dow Jones Industrial Average eked out another closing record high on Friday, with all three Wall Street benchmarks scoring weekly gains, as artificial intelligence stocks had enough steam to keep the rally chugging along.

Following the bullish performance of the US market, the FKLI could trade higher. A break above 1554.5 (Yesterday's high) would target 1559/1566. On the flip side, the next support is located at 1551 (Pivot), followed by 1547 (Yesterday’s low), and finally 1544 (S2).

(News Source: The Edge; Reuters)

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