FKLI
FKLI Spot Month Futures - 13 May 2024
Mon, 13-May-2024 06:30 am
by Futures Dealing • Apex Futures

FKLI
Pivot
1606
Resistance
1608 / 1612 / 1618
Support
1602 / 1600 / 1594
Possible Range
1600 to 1612
Strategy
Long positions may be opened above 1606 with targets at 1608/1612 and stop-loss at 1601
Short positions may be opened below 1606 with targets at 1600/1594 and stop-loss at 1611

FKLI May month rose 3 points or 0.19% to 1605 closed higher. The FBM KLCI bounced back from its earlier losses and ended the day without much change, as no major factors were driving its movements.

Overnight Dow Jones rose 125 points. Wall Street shares ended mixed on Friday, but with all three indexes extending weekly win streaks ahead of crucial inflation data next week.

Following the bullish performance of the US market, the FKLI could trade within the range. A break below 1603 (Yesterday's low) would target 1600/1594. On the flip side, the next resistance is located at 1606 (Pivot), followed by 1608 (R1), and finally 1609 (Yesterday’s high).

(News Source: The Star; Reuters)

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