FKLI
FKLI Spot Month Futures - 26 April 2024
Fri, 26-Apr-2024 06:45 am
by Futures Dealing • Apex Futures

FKLI
Pivot
1568
Resistance
1570 / 1575 / 1582
Support
1563 / 1561 / 1554
Possible Range
1561 to 1570
Strategy
Long positions may be opened above 1568 with targets at 1570/1575 and stop-loss at 1563
Short positions may be opened below 1568 with targets at 1561/1554 and stop-loss at 1573

FKLI Apr month fell 5.5 points or 0.35% to 1565.5 closed lower. Despite opening higher at the start of the opening bell, the FBM KLCI succumbed to mild profit-taking activities after the recent gains.

Overnight Dow Jones fell 375 points. Wall Street stocks closed lower on Thursday as markets were stunned by data showing slower-than-expected U.S. economic growth and persistent inflation, coupled with a sell-off in large cap stocks triggered by disappointing results from Meta Platforms.

Following the bearish performance of the US market, the FKLI could trade lower. A break below 1565 (Yesterday's low) would target 1561/1554. On the flip side, the next resistance is located at 1568 (Pivot), followed by 1572 (Yesterday’s high), and finally 1575 (R2).

(News Source: The Edge; Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.143353 4.175289
EUR 4.627335 4.635403
CNY 0.591281 0.591775
HKD 0.532272 0.535891
SGD 3.214986 3.240064