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FKLI Updates

Author: InvestorsDoctor   |   Latest post: Fri, 17 May 2019, 8:46 AM

 

Daily Futures Commentaries: [FKLI Malaysia Index] 18/4/2019 - Test below 1620, more to bearish

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18/4/2019

FKLI Apr 19

Previous Close: 1622 -8

FKLI edged lower to below 1620 yesterday, which is its lowest since Dec 2016 and pulled back to above 1620 before closing, as pressured by foreign fund selling and as Malaysian bonds face downgrade risk.

Hourly chart showed a more to bearish trend with potential RSI bullish divergence, close below 1620 to trigger more downside, while above 1640 to test next resistance.

Classic Support & Resistance
Resistance: 1632.5 1640.5
Support: 1610 1600

Recommend Trading Plan for the day
1. Sell 1617, stop 1620, profit 1614/1611/1608

FKLI Margin Requirement
Overnight MYR 4000
Spread MYR 500

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

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