FKLI
FKLI Spot Month Futures - 17 May 2024
Fri, 17-May-2024 06:24 am
by Futures Dealing • Apex Futures

FKLI
Pivot
1611
Resistance
1614 / 1620 / 1628
Support
1606 / 1603 / 1594
Possible Range
1606 to 1614
Strategy
Long positions may be opened above 1611 with targets at 1614/1620 and stop-loss at 1606
Short positions may be opened below 1611 with targets at 1606/1603 and stop-loss at 1616

FKLI May month fell 1.5 points or 0.09% to 1608.5 closed higher. The FBM KLCI finished at an intraday low on Wednesday, contrasting with the upward surge witnessed in glove counters.

Overnight Dow Jones fell 38 points. Wall Street was ambivalent on Thursday, unable to find much conviction from a spate of damp economic data, a cautious Fed and mixed bag of earnings.

Following the mixed performance of the US market, the FKLI could trade within the range. A break below 1608 (Yesterday's low) would target 1606/1603. On the flip side, the next resistance is located at 1611 (Pivot), followed by 1614 (R1), and finally 1616.5 (Yesterday’s high).

(News Source: The Star; Reuters)

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