FKLI
FKLI Spot Month Futures - 30 May 2024
Thu, 30-May-2024 06:31 am
by Futures Dealing • Apex Futures

FKLI
Pivot
1609
Resistance
1613 / 1617 / 1625
Support
1605 / 1601 / 1593
Possible Range
1601 to 1613
Strategy
Long positions may be opened above 1609 with targets at 1613/1617 and stop-loss at 1604
Short positions may be opened below 1609 with targets at 1605/1601 and stop-loss at 1614

FKLI May month fell 4.5 points or 0.28% to 1609 closed lower. The benchmark FBM KLCI settled in the negative territory on Wednesday while technology counters were in focus.

Overnight Dow Jones fell 411 points. U.S. stocks fell on Wednesday amid further gains in Treasury yields and concern over the timing and scale of possible interest rate cuts from the Federal Reserve.

Following the bearish performance of the US market, the FKLI could trade lower. A break below 1605.5 (Yesterday's low) would target 1601/1593. On the flip side, the next resistance is located at 1613.5 (Yesterday’s high), followed by 1617 (R2), and finally 1625 (R3).

(News Source: The Star;Reuters)

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