FKLI
FKLI Spot Month Futures - 29 May 2024
Wed, 29-May-2024 06:27 am
by Futures Dealing • Apex Futures

FKLI
Pivot
1616
Resistance
1620 / 1626 / 1637
Support
1609 / 1605 / 1595
Possible Range
1605 to 1620
Strategy
Long positions may be opened above 1616 with targets at 1620/1626 and stop-loss at 1611
Short positions may be opened below 1616 with targets at 1609/1605 and stop-loss at 1621

FKLI May month fell 4.5 points or 0.28% to 1613.5 closed lower. Bursa Malaysia ended the day in red as profit taking activities were seen in selected heavyweights.

Overnight Dow Jones fell 216 points. The Nasdaq crossed 17,000 for the first time ever on Tuesday, boosted by gains in Nvidia, while the S&P 500 closed barely higher and the Dow ended lower as Treasury yields rose.

Following the bearish performance of the US market, the FKLI could trade lower. A break below 1611.5 (Yesterday's low) would target 1609/1605. On the flip side, the next resistance is located at 1616 (Pivot), followed by 1620 (R1), and finally 1622 (Yesterday’s high).

(News Source: NST;Reuters)

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Market Mover
Settlement Rates
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USD 4.186146 4.219371
EUR 4.664934 4.669654
CNY 0.594782 0.595398
HKD 0.537928 0.541710
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