FKLI
FKLI Spot Month Futures - 19 June 2024
Wed, 19-Jun-2024 07:56 am
by Dealing Team • Apex Futures

FKLI
Pivot
1610
Resistance
1615 / 1621 / 1627
Support
1607 / 1602 / 1597
Possible Range
1590 to 1620
Strategy
Long positions may be opened above 1610 with targets at 1615/1621 and stop-loss at 1605
Short positions may be opened below 1610 with targets at 1607/1602 and stop-loss at 1615

FKLI June month unchanged and remain to close at 1608.5 on previous session. After a long weekend, the FBM KLCI relinquished its gains and closed in negative territory on Tuesday, as the initial positive momentum in the market waned amidst changing investor sentiment.

Overnight Dow Jones rose 56 points to 38834. The S&P 500 and Nasdaq achieved record highs on Tuesday, lifted by Nvidia's persistent rise to new peaks, while the Dow closed marginally higher in subdued trading before the holiday, impacted by softer-than-expected U.S. retail sales data.

Tracking positive performance of the US market, the FKLI is likely to continue trade in range, mildly bullish with upside limited. The immediate support and resistance levels are identified at 1607 and 1615, respectively.

(News Source: The Star; Reuters)

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Market Mover
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