FKLI
FKLI Spot Month Futures (PM) - 19 June 2024
Wed, 19-Jun-2024 01:27 pm
by Dealing Team • Apex Futures

FKLI
Pivot
1606
Resistance
1608 / 1614 / 1621
Support
1602 / 1597 / 1592
Possible Range
1590 to 1620
Strategy
Long positions may be opened above 1605 with targets at 1608/1614 and stop-loss at 1600
Short positions may be opened below 1605 with targets at 1602/1597 and stop-loss at 1610

FKLI June month dropped 5.5 points or 0.34% at 1603 closed lower at midday. The FBM KLCI is likely to continue consolidating above the 1,600 psychological level due to a lack of new catalysts. Lower-tier stocks are expected to follow a similar trend, with potential for bargain-hunting in the near term, said Apex Securities Research.

The FKLI is likely to continue consolidate in downside bias. The immediate support and resistance levels are identified at 1602 and 1608, respectively.

(News Source: The Star)

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