08/11/2017
FKLI Nov 17
Previous Close: 1752.5 +12
FKLI rebounds sharply and sustain above 1750 level. Wait today to confirm rebound signal. US market little changes yesterday but futures drop this morning, FKLI may first test retracement later.
Hourly chart forms a double bottom rebound signal, while MACD & BB crossing up, may further push up index, but be cautious as RSI in overbought now, may see some correction first.
Malaysia Factors to Watch This Week
1. Retail Sales Sep, 12PM, 9 Nov
2. Industrial Production Sep, 12PM , 9 Nov
3. Construction Output Q3, 12PM, 9 Nov
4. Interest Decision, 3PM, 9 Nov
Price Level to monitor today:
Resistance: 1765.50
Support: 1740 1732
Recommend Trading Plan for the day:
1. Buy higher high 1753.5, stop 1748, profit 1759
2. If price go for overbought correction, buy 1741-45, stop 1739.
FKLI Margin Requirement (per lot)
Intraday MYR2000
Overnight MYR4000
Spread MYR500