FKLI
FKLI Spot Month Futures - 10 May 2024
Fri, 10-May-2024 06:30 am
by Futures Dealing • Apex Futures

FKLI
Pivot
1604
Resistance
1610 / 1617 / 1630
Support
1597 / 1591 / 1578
Possible Range
1597 to 1610
Strategy
Long positions may be opened above 1604 with targets at 1610/1617 and stop-loss at 1599
Short positions may be opened below 1604 with targets at 1597/1591 and stop-loss at 1609

FKLI May month fell 4 points or 0.25% to 1602 closed lower. The FBM KLCI took a small step back today on profit-taking amid cautious sentiment.

Overnight Dow Jones rose 331 points. The Dow Jones Industrial Average closed higher on Thursday, the seventh straight daily advance for the benchmark, as all three major U.S. indexes gained after weekly jobless claims data offered fresh hope for interest-rate cuts.

Following the bullish performance of the US market, the FKLI could trade within the range. A break below 1599 (Yesterday's low) would target 1597/1591. On the flip side, the next resistance is located at 1604 (Pivot), followed by 1610 (R1), and finally 1612 (Yesterday’s high).

(News Source: The Star; Reuters)

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