FKLI
FKLI Spot Month Futures - 8 May 2024
Wed, 08-May-2024 06:53 am
by Futures Dealing • Apex Futures

FKLI
Pivot
1608
Resistance
1616 / 1622 / 1636
Support
1602 / 1594 / 1580
Possible Range
1602 to 1616
Strategy
Long positions may be opened above 1608 with targets at 1616/1622 and stop-loss at 1603
Short positions may be opened below 1608 with targets at 1602/1594 and stop-loss at 1613

FKLI May month rose 10.5 points or 0.66% to 1609.5 closed higher. Share prices on Bursa Malaysia marched higher for the fourth straight trading session, as investors piled into blue chip stocks.

Overnight Dow Jones rose 31 points. The S&P 500 and Dow Jones Industrial Average both clung onto gains to ended slightly higher on Tuesday, extending recent winning streaks fueled by renewed expectations that the Federal Reserve will cut interest rates this year.

Following the mixed performance of the US market, the FKLI could trade within the range. A break above 1614 (Yesterday's high) would target 1616/1622. On the flip side, the next support is located at 1608 (Pivot), followed by 1602 (S1), and finally 1600 (Yesterday’s low).

(News Source: The Star; Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.394436 4.427995
EUR 4.707703 4.715361
CNY 0.611400 0.611873
HKD 0.565257 0.569589
SGD 3.301255 3.326777