FKLI
FKLI Spot Month Futures - 7 May 2024
Tue, 07-May-2024 07:54 am
by Futures Dealing • Apex Futures

FKLI
Pivot
1597
Resistance
1604 / 1609 / 1621
Support
1592 / 1585 / 1573
Possible Range
1592 to 1609
Strategy
Long positions may be opened above 1597 with targets at 1604/1609 and stop-loss at 1592
Short positions may be opened below 1597 with targets at 1592/1585 and stop-loss at 1602

FKLI May month rose 5 points or 0.31% to 1599 closed higher. Blue chips finished higher for the third straight session on Monday, aided by gains in Public Bank Bhd, CIMB Group Holdings Bhd and YTL Power International Bhd.

Overnight Dow Jones rose 176 points. U.S. stock indexes closed higher on Monday, their third straight session of advances, as investors continued to gain hope that there was a greater chance of the Federal Reserve cutting interest rates this year.

Following the bullish performance of the US market, the FKLI could trade higher. A break above 1602 (Yesterday's high) would target 1604/1609. On the flip side, the next support is located at 1597 (Pivot), followed by 1592 (S1), and finally 1590 (Yesterday’s low).

(News Source: The Star; Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.186146 4.219371
EUR 4.664934 4.669654
CNY 0.594782 0.595398
HKD 0.537928 0.541710
SGD 3.240672 3.263549