FKLI
FKLI Spot Month Futures - 18 June 2024
Tue, 18-Jun-2024 08:44 am
by Dealing Team • Apex Futures

FKLI
Pivot
1608
Resistance
1613 / 1617 / 1622
Support
1605 / 1601 / 1596
Possible Range
1590 to 1620
Strategy
Long positions may be opened above 1610 with targets at 1617/1622 and stop-loss at 1605
Short positions may be opened below 1610 with targets at 1605/1601 and stop-loss at 1615

FKLI June month dropped 4 points or 0.25% to close lower at 1608.5. The Bursa Malaysia benchmark FBMKLCI index closed lower on Friday due to profit-taking and cautious market sentiment weighing on trading activities.

Overnight Dow Jones gained 188 points to 38778. The Dow broke its four-day losing streak, while the S&P 500 and Nasdaq reached new record closing highs on Monday. Technology stocks surged amid growing optimism about artificial intelligence, with investors eyeing upcoming economic data and Federal Reserve speeches for potential clues on monetary policy.

Tracking bullish performance of the US market, the FKLI is likely to trade higher. The immediate support and resistance levels are identified at 1605 and 1613, 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