FKLI
FKLI Spot Month Futures - 6 June 2024
Thu, 06-Jun-2024 08:33 am
by Dealing Team • Apex Futures

FKLI
Pivot
1616
Resistance
1617 / 1622 / 1626
Support
1610 / 1606 / 1601
Possible Range
1600 to 1640
Strategy
Long positions may be opened above 1614 with targets at 1617/1622 and stop-loss at 1609
Short positions may be opened below 1614 with targets at 1610/1606 and stop-loss at 1619

FKLI June month fell 9.5 point or 0.59% to end lower at 1612.5. Malaysia's benchmark index FBM KLCI concluded Wednesday session with a lower close, although the main index maintained its position above the psychological threshold of 1,600. The decrease was predominantly attributed to profit-taking maneuvers.

Overnight Dow Jones rose 96 points. Wednesday saw the S&P 500 and Nasdaq indexes reaching unprecedented closing highs, predominantly fueled by the technology sector, as markets processed economic data signaling potential support for the Federal Reserve's widely anticipated commencement of a policy easing cycle.

Following the bullish performance of the US market, the FKLI could receive some support and trade higher. The immediate support and resistant range spotted at 1610 and 1617

(News Source: The Star; Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.186095 4.224386
EUR 4.685732 4.700656
CNY 0.595462 0.596801
HKD 0.537358 0.541779
SGD 3.239345 3.269267