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FKLI Updates

Author: InvestorsDoctor   |   Latest post: Wed, 24 Apr 2019, 9:27 AM

 

Daily Futures Commentaries: [FKLI Malaysia Index] 12/3/2019 - Hit more than 1 year low, watch out RSI oversold rebound

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12/3/2019

 
*FKLI Mar 19*
 
Previous Close: 1657 -18.5
 
FKLI fell strongly yesterday to more than 1 year low on continuous foreign fund selling. US stock market reversed its losses with more than 200pts of gains, FKLI may gap up and test rebound.
 
Hourly chart formed lower highs & lows, break below 38.2 Fibo retracement level of swing 1631.5-1729.5 which is around 1670 level, more to bearish, but be cautious as RSI in oversold, may trigger technical rebound in short term.
 
*Classic Support & Resistance* 
Resistance: 1669.5 1679.5
Support: 1641 1631.5
 
*Recommend Trading Plan for the day*
1. Sell 1655, stop 1659, profit 1651/1647/1643.
2. Buy 1659 if expect to track strength in US market, stop 1655, profit 1663/1667/1671.
 
*FKLI Margin Requirement* 
Overnight MYR 4000
Spread MYR 500
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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