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FKLI Updates

Author: InvestorsDoctor   |   Latest post: Thu, 25 Apr 2019, 8:41 AM

 

Daily Futures Commentaries: [FKLI Malaysia Index] 11/3/2019 - More to bearish, trigger more downside below 1670, watch out RSI bullish divergence

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11/3/2019

*FKLI Mar 19*

Previous Close: 1675.5 -4

FKLI hit 3 week low to test 1670 support level on foreign fund selling, while US stock market pulled back its losses last Friday but DJI futures fall on this morning, FKLI may move in range 1st.

Hourly chart formed lower highs & lows, may test 38.2 Fibo retracement level of swing 1631.5-1729.5 which is around 1670 level, but be cautious of potential RSI bullish divergence.

*Classic Support & Resistance*
Resistance: 1690 1698.5
Support: 1668.5 1655.5

*Recommend Trading Plan for the day*
1. Sell 1672, stop 1676, profit 1668/1664.

*FKLI Margin Requirement*
Overnight MYR 4000
Spread MYR 500

Disclaimer: Idea sharing only, trade at your own risk.

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