FKLI
FKLI Spot Month Futures - 25 March 2024
Mon, 25-Mar-2024 07:58 am
by Futures Dealing • Apex Futures

FKLI
Pivot
1542
Resistance
1547 / 1551 / 1560
Support
1538 / 1533 / 1524
Possible Range
1533 to 1547
Strategy
Long positions may be opened above 1542 with targets at 1547/1551 and stop-loss at 1537
Short positions may be opened below 1542 with targets at 1538/1533 and stop-loss at 1547

FKLI Mar month rose 2.5 points or 0.16% to 1543 closed higher. Bursa Malaysia managed to recover from earlier losses to end the week marginally higher on Friday on late buying, despite the mostly downbeat performance in regional markets.

Overnight Dow Jones fell 305 points. The S&P 500 ended little changed on Friday, but the index registered its biggest weekly percentage gain of 2024 after the Federal Reserve this week stuck with projections for three interest rate cuts by year's end.

Following the bearish performance of the US market, the FKLI could trade lower. A break below 1537 (Yesterday's low) would target 1533/1524. On the flip side, the next resistance is located at 1542 (Pivot), followed by 1546 (Yesterday’s high), and finally 1551 (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