FKLI
FKLI Spot Month Futures - 2 April 2024
Tue, 02-Apr-2024 08:42 am
by Futures Dealing • Apex Futures

FKLI
Pivot
1544
Resistance
1549 / 1553 / 1562
Support
1540 / 1535 / 1526
Possible Range
1535 to 1549
Strategy
Long positions may be opened above 1544 with targets at 1549/1553 and stop-loss at 1539
Short positions may be opened below 1544 with targets at 1540/1535 and stop-loss at 1549

FKLI Apr month rose 4.5 points or 0.29% to 1545 closed higher. Bursa Malaysia closed higher on Monday as investors chased selected major energy, plantation and telecommunication stocks.

Overnight Dow Jones fell 240 points. The Dow and S&P 500 edged lower on Monday, dragged down by investor worries over the timing of interest rate cuts by the Federal Reserve after stronger-than-expected manufacturing data pushed Treasury yields higher.

Following the bearish performance of the US market, the FKLI could trade within the range. A break below 1539.5 (Yesterday's low) would target 1535/1526. On the flip side, the next reisistance is located at 1544 (Pivot), followed by 1548.5 (Yesterday’s high), and finally 1553 (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