FKLI
FKLI Spot Month Futures - 3 May 2024
Fri, 03-May-2024 06:41 am
by Futures Dealing • Apex Futures

FKLI
Pivot
1582
Resistance
1589 / 1593 / 1605
Support
1577 / 1570 / 1559
Possible Range
1577 to 1593
Strategy
Long positions may be opened above 1582 with targets at 1589/1593 and stop-loss at 1577
Short positions may be opened below 1582 with targets at 1577/1570 and stop-loss at 1587

FKLI May month rose 8 points or 0.51% to 1584.5 closed higher. The FBM KLCI snapped its two straight sessions of gains as investors decided to take some money off the table and YTL Power weighed.

Overnight Dow Jones rose 322 points. U.S. stocks rallied on Thursday as investors weighed the Federal Reserve's more dovish-than-expected interest rate guidance on Wednesday against a plethora of mixed earnings and economic data.

Following the bullish performance of the US market, the FKLI could trade higher. A break above 1586 (Yesterday's high) would target 1589/1593. On the flip side, the next support is located at 1582 (Pivot), followed by 1577 (S1), and finally 1574.5 (Yesterday’s low).

(News Source: The Star; Reuters)

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Market Mover
Settlement Rates
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EUR 4.627335 4.635403
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