FKLI
FKLI Spot Month Futures - 6 May 2024
Mon, 06-May-2024 06:27 am
by Futures Dealing • Apex Futures

FKLI
Pivot
1589
Resistance
1600 / 1605 / 1621
Support
1584 / 1573 / 1557
Possible Range
1584 to 1605
Strategy
Long positions may be opened above 1589 with targets at 1600/1605 and stop-loss at 1584
Short positions may be opened below 1589 with targets at 1584/1573 and stop-loss at 1594

FKLI May month rose 9.5 points or 0.60% to 1594 closed higher. Bursa Malaysia closed higher today with strong buying on utilities and plantation stocks.

Overnight Dow Jones rose 450 points. Major U.S. stock indexes ended with gains of more than 1% each on Friday and registered increases for the week, driven by a cooler-than-expected U.S. jobs report and a surge in shares of Apple. The Nasdaq composite added just under 2%.

Following the bullish performance of the US market, the FKLI could trade higher. A break above 1595 (Yesterday's high) would target 1600/1605. On the flip side, the next support is located at 1589 (Pivot), followed by 1584 (S1), and finally 1579 (Yesterday’s low).

(News Source: The Star; 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