FKLI
FKLI Spot Month Futures - 23 May 2024
Thu, 23-May-2024 07:49 am
by Futures Dealing • Apex Futures

FKLI
Pivot
1626
Resistance
1630 / 1638 / 1650
Support
1618 / 1614 / 1602
Possible Range
1614 to 1630
Strategy
Long positions may be opened above 1626 with targets at 1630/1638 and stop-loss at 1621
Short positions may be opened below 1626 with targets at 1618/1614 and stop-loss at 1631

FKLI May month fell 4.5 points or 0.28% to 1622.5 closed lower. Bursa Malaysia closed in the red on Tuesday due to profit-taking activities and the shortened trading week.

Overnight Dow Jones fell 201 points. Wall Street ended lower and oil prices fell on Wednesday as investors parsed minutes from the U.S. Federal Reserve's most recent policy meeting.

Following the bearish performance of the US market, the FKLI could trade lower. A break below 1621 (Yesterday's low) would target 1618/1614. On the flip side, the next resistance is located at 1626 (Pivot), followed by 1630 (R1), and finally 1633 (Yesterday’s high).

(News Source: NST; 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