FKLI
FKLI Spot Month Futures - 27 February 2024
Tue, 27-Feb-2024 08:20 am
by Futures Dealing • Apex Futures

FKLI
Pivot
1552
Resistance
1556 / 1562 / 1573
Support
1545 / 1541 / 1531
Possible Range
1545 to 1556
Strategy
Long positions may be opened above 1552 with targets at 1556/1562 and stop-loss at 1547
Short positions may be opened below 1552 with targets at 1545/1541 and stop-loss at 1557

FKLI Feb month fell 3 points or 0.19% to 1549 closed lower. Bursa Malaysia pared earlier losses on Monday to settle marginally lower as buying activities emerged towards the end of the trading session, amid the downbeat regional market performance.

Overnight Dow Jones fell 62 points. An impressive AI-fueled rally that hoisted Wall Street indexes to all-time peaks last week took a breather on Monday, closing modestly lower, as upcoming economic reports with their implications on the start of the Federal Reserve's easing cycle took centerstage.

Following the mixed performance of the US market, the FKLI could trade within the range. A break below 1547.5 (Yesterday's low) would target 1545/1541. On the flip side, the next resistance is located at 1552 (Pivot), followed by 1558 (Yesterday’s high), and finally 1562 (R2).

(News Source: The Edge; Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.186344 4.224837
EUR 4.692802 4.707788
CNY 0.594564 0.595974
HKD 0.537155 0.542118
SGD 3.243708 3.273864