FKLI
FKLI Spot Month Futures - 12 April 2024
Fri, 12-Apr-2024 08:32 am
by Futures Dealing • Apex Futures

FKLI
Pivot
1559
Resistance
1566 / 1576 / 1593
Support
1549 / 1542 / 1525
Possible Range
1542 to 1566
Strategy
Long positions may be opened above 1559 with targets at 1566/1576 and stop-loss at 1554
Short positions may be opened below 1559 with targets at 1549/1542 and stop-loss at 1564

FKLI Apr month fell 5 points or 0.32% to 1555.5 closed lower. Bursa Malaysia closed marginally lower on Tuesday, attributed to profit-taking activities ahead of the Hari Raya Aidilfitri holidays.

Overnight Dow Jones fell 2 points. The Nasdaq Composite and S&P 500 ended higher on Thursday after data showed that producer prices increased only modestly in March, negating some fears over persistently high price pressures in the wake of hotter than expected consumer price gains for the month of March on Wednesday.

Following the mixed performance of the US market, the FKLI could trade within the range. A break below 1552 (Yesterday's low) would target 1549/1542. On the flip side, the next resistance is located at 1559 (Pivot), followed by 1566 (R1), and finally 1569 (Yesterday’s high).

(News Source: The Edge; Reuters)

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Market Mover
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