FKLI
FKLI Spot Month Futures - 20 May 2024
Mon, 20-May-2024 07:26 am
by Futures Dealing • Apex Futures

FKLI
Pivot
1616
Resistance
1624 / 1629 / 1641
Support
1611 / 1604 / 1591
Possible Range
1611 to 1629
Strategy
Long positions may be opened above 1616 with targets at 1624/1629 and stop-loss at 1611
Short positions may be opened below 1616 with targets at 1611/1604 and stop-loss at 1621

FKLI May month rose 10.5 points or 0.65% to 1619 closed higher. Bursa Malaysia's benchmark index today hit its highest level in more than two years, fuelled by the country's estimate-beating growth print for the first quarter (Q1) of 2024.

Overnight Dow Jones fell 38 points. US equity indexes reached new record highs with the Dow Jones Industrial Average topping 40,000 for the first time as bets for an interest-rate cut before the US presidential election remained elevated after consumer price inflation eased.

Following the mixed performance of the US market, the FKLI could trade within the range. A break above 1621 (Yesterday's high) would target 1624/1629. On the flip side, the next support is located at 1616 (Pivot), followed by 1611 (S1), and finally 1608.5 (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