20/10/2017
FKLI Oct 17
Yesterday Close: 1741.5 -7
Malaysia stock market continue to closed lower as investors stay cautious ahead of incoming General Election. US stock market erased its losses and closed at green yesterday, FKLI may open high and test rebound.
Hourly chart analysis show lower high & low, if price break yesterday low of 1738 will trigger a further sell signal, yet RSI now in oversold, watch out for potential technical rebound. Fibo analysis show significant resistance at around 1745/1753. Fibo at lower side will be see at around 1732.
Factors to watch for Malaysia this week:
1. Inflation rate Sep 17, 12PM, Friday 20 Oct
Price Level to monitor today:
Resistance: 1753 1760
Support: 1735 1728
Recommend Trading Plan for the day:
1. Buy at 1743 or below with stop at 1737.5 for oversold rebound
2. Sell at lower low 1737.5 with stop at 1743
FKLI Margin Requirement (per lot)
Intraday MYR2000
Overnight MYR4000
Spread MYR500
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