FKLI
FKLI Spot Month Futures - 5 April 2024
Fri, 05-Apr-2024 08:44 am
by Futures Dealing • Apex Futures

FKLI
Pivot
1548
Resistance
1558 / 1568 / 1581
Support
1542 / 1532 / 1515
Possible Range
1542 to 1558
Strategy
Long positions may be opened above 1548 with targets at 1558/1565 and stop-loss at 1543
Short positions may be opened below 1548 with targets at 1542/1532 and stop-loss at 1553

FKLI Apr month rose 11.5 points or 0.75% to 1551.5 closed higher. Bursa Malaysia remained higher at midday on Thursday, buoyed by persistent bargain-hunting in most heavyweight stocks.

Overnight Dow Jones fell 530 points. The three major U.S. stock indexes fell more than 1% each and the S&P 500 had its biggest daily percentage drop since Feb. 13 on Thursday as Federal Reserve officials took a cautious approach in comments on the outlook for interest rate cuts, and investors braced for Friday's U.S. monthly jobs report.

Following the bearish performance of the US market, the FKLI could trade within the range. A break above 1554.5 (Yesterday's high) would target 1558/1565. On the flip side, the next support is located at 1548 (Pivot), followed by 1542 (S1), and finally 1538 (Yesterday’s low).

(News Source: The Edge; Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.205278 4.237675
EUR 4.930003 4.933950
CNY 0.592227 0.592702
HKD 0.540051 0.543728
SGD 3.273475 3.295837