22/1/2018

 FKLI Jan 18

 Previous Close: 1833

FKLI finished higher and expected to start the week on a positive note with sustained momentum from last Friday. World equity markets climbed to a record on Friday as the U.S. dollar held near three-year lows and a U.S. government shutdown loomed, while U.S. Treasury yields continued their ascent to hit their highest levels since September 2014, according to Reuters.

In the Daily chart, FKLI trading in the range for 1819 to 1839 for the past 10 trading days. Despite a good momentum on last Friday, FKLI has yet to breakout the range and market remained in sideway. While trader can initial entry when breakout. Daily Average True Range climbed to 14.

Price Level to monitor today:

Resistance : 1839

Support : 1819.5

 Recommend Trading Plan for the day:

1.       Look for sell signal if break below 1819, stop 1825, TP 1813

2.       Look for buy signal if break above 1839.5, stop 1829.5, TP 1849.5 & 1859.5

3.       Range Trader may initiate trades if market trading between 1839 to 1819, buy near 1819, sell near 1839, take 8 points stop with 8 points TP. Alternatively, follow hourly stochatisc crossover in overbought zone for sell and crossover in oversold zone for buy. Stop and TP follow 2 hourly ATR.

Events to Watch This Week:

Wed 12:00 pm Yearly Inflation

Thu 03:00 pm Interest Rate Decision

FKLI Margin Requirement

Intraday     MYR 1750

Overnight  MYR 3500

Spread       MYR 500

 Disclaimer: Idea for sharing purpose, trade at your own risk.

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