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FKLI Updates

Author: InvestorsDoctor   |   Latest post: Fri, 24 May 2019, 8:26 AM

 

Daily Futures Commentaries: [FKLI Malaysia Index] 11/1/2019 - Enter sideway, trade in range and wait for breakout

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11/1/2019

 
*FKLI Jan 19*
 
Previous Close: 1675.5 +2.5
 
FKLI again traded in sideway and closed with almost unchanged while US stock market reversed its losses earlier and closed with more than 100pts of gains, FKLI may gap up and test rebound 1st. Today watch out for Msia industrial production & retail sales data on 12pm.
 
Hourly chart showed FKLI move in range while technical indicators in neutral. FKLI failed to hold above 50% Fibo retracement level of swing 1749.5-1631.5 and now testing 38.2 Fibo retracement level, wait for more breakout signal.
 
 *Classic Support & Resistance* 
Resistance: 1690.5 1703
Support: 1664 1655.5
 
 *Recommend Trading Plan for the day:*
1. Trade in range 1660-1690.
 
 *FKLI Margin Requirement* 
Overnight MYR 4000
Spread MYR 500
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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