FKLI
FKLI Spot Month Futures - 21 March 2024
Thu, 21-Mar-2024 09:17 am
by Futures Dealing • Apex Futures

FKLI
Pivot
1541
Resistance
1546 / 1556 / 1572
Support
1530 / 1525 / 1510
Possible Range
1530 to 1556
Strategy
Long positions may be opened above 1541 with targets at 1546/1556 and stop-loss at 1536
Short positions may be opened below 1541 with targets at 1530/1525 and stop-loss at 1546

FKLI Mar month fell 11 points or 0.71% to 1535.5 closed lower. Bursa Malaysia continued its downtrend to close lower for the second consecutive day as the markets anxiously awaited the US Federal Open Market Committee (FOMC) decision later in the night.

Overnight Dow Jones rose 401 points. Wall Street's main stock indexes closed higher on Wednesday after the Federal Reserve eased investor jitters by keeping borrowing costs unchanged and reinforcing expectations that rates could be cut as many as three times this year.

Following the bullish performance of the US market, the FKLI could trade higher. A break above 1551 (Yesterday's high) would target 1556/1572. On the flip side, the next support is located at 1535.5 (Yesterday’s low), followed by 1530 (S1), and finally 1525 (S2).

(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