FKLI
FKLI Spot Month Futures - 13 June 2024
Thu, 13-Jun-2024 08:33 am
by Dealing Team • Apex Futures

FKLI
Pivot
1612
Resistance
1617 / 1621 / 1626
Support
1610 / 1607 / 1603
Possible Range
1600 to 1630
Strategy
Long positions may be opened above 1613 with targets at 1617/1621 and stop-loss at 1608
Short positions may be opened below 1613 with targets at 1610/1607 and stop-loss at 1618

FKLI June month dropped 1 point or 0.06% to close marginally lowerat 1610. Bursa Malaysia benchmark FBMKLCI index ended mixed as market sentiment remained cautious, reflecting the regional performance ahead of the US Federal Reserve's decision on interest rates later in the day.

Despite this, the local bourse continued to receive steady support across sectors, with technology, construction, and property leading the way.

Overnight Dow Jones down 35 points to 38712. The S&P 500 and the Nasdaq scored record closing highs for the third consecutive session on Wednesday and U.S. Treasury yields pared earlier declines as investors weighed a market-pleasing inflation report against lowered interest rate cut expectations.

Tracking bullish performance of the US market, the FKLI may trade in upward movement but upside could limit. The immediate support and resistance levels are identified at 1610 and 1617, respectively.

(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