FKLI Oct 17
Yesterday Close: 1759.5 -4
US market gained nearly 70 points yesterday, FKLI likely to open high to reflect the sentiment. On yesterday trading, FKLI had erased its recent gained, and price fall below 1760.
In the hourly chart show, FKLI may test the crucial support of level 1752 if FKLI violated 1758. Based on Fibo analysis, FKLI unable to sustain above 61.8 level. As we discussed in previous FKLI commentary, RSI remains lack of buying power to support the market.
Factors to watch for Malaysia this week:
1. 12 Oct 12 pm, Industrial production
2. 17 Aug 12 pm, Retail Sales
Price Level to monitor today:
Resistance: 1766 1772
Support: 1758 1752
Recommend Trading Plan for the day:
1. Buy with stop at 1757 or
2. Sell at 1757 with stop at 1763.
Again, please watch out movement of KLCI and whether FKLI able to sustain above 1761.5 (61.8 Fibo level). Above 1761.5 indicate bullish, below 1761.5 indicate correction.
FKLI Margin Requirement (per lot)
Intraday MYR2000
Overnight MYR4000
Spread MYR500