FKLI
FKLI Spot Month Futures - 24 May 2024
Fri, 24-May-2024 06:29 am
by Futures Dealing • Apex Futures

FKLI
Pivot
1627
Resistance
1636 / 1643 / 1659
Support
1620 / 1611 / 1595
Possible Range
1611 to 1636
Strategy
Long positions may be opened above 1627 with targets at 1636/1643 and stop-loss at 1622
Short positions may be opened below 1627 with targets at 1620/1611 and stop-loss at 1632

FKLI May month rose 7 points or 0.43% to 1629.5 closed higher. Bursa Malaysia closed higher on Thursday, buoyed by increased buying activity.

Overnight Dow Jones fell 605 points. Wall Street indexes closed lower as optimism around chipmaker Nvidia wasn't enough to carry the whole market higher with the latest batch of economic data fueling inflation concerns and worries about the Federal Reserve's ability to cut interest rates.

Following the bearish performance of the US market, the FKLI could trade lower. A break below 1618 (Yesterday's low) would target 1611/1595. On the flip side, the next resistance is located at 1634 (Yesterday’s high), followed by 1643 (R2), and finally 1659 (R3).

(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