FKLI
FKLI Spot Month Futures - 22 March 2024
Fri, 22-Mar-2024 08:38 am
by Futures Dealing • Apex Futures

FKLI
Pivot
1540
Resistance
1545 / 1549 / 1559
Support
1535 / 1530 / 1521
Possible Range
1535 to 1549
Strategy
Long positions may be opened above 1540 with targets at 1545/1549 and stop-loss at 1535
Short positions may be opened below 1540 with targets at 1535/1530 and stop-loss at 1545

FKLI Mar month rose 5 points or 0.33% to 1540.5 closed higher. Bursa Malaysia rebounded from two consecutive days of declines to close higher on Thursday, spurred by bargain-hunting activities amid the recent market sell-off.

Overnight Dow Jones rose 269 points. Wall Street's three major stock indexes on Thursday registered record closing highs for the second day in a row after the Federal Reserve reassured investors about the prospects for rate cuts this year while chip stocks rallied after Micron Technology's upbeat forecast.

Following the bullish performance of the US market, the FKLI could trade higher. A break above 1544 (Yesterday's high) would target 1549/1559. On the flip side, the next support is located at 1540 (Pivot), followed by 1534.5 (Yesterday’s low), and finally 1530 (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