FKLI Updates
[KLCI Futures] - Sideway and Yet to Breakout
InvestorsDoctor
Publish date: Tue, 23 Jan 2018, 09:14 AM
InvestorsDoctor
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Here we update timely info about FKLI
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23/1/2018
FKLI Jan 18
Previous Close: 1837.5 +4.5
FKLI settled higher ahead of key data this week, supported by foreign fund buying, US stock market see some rebound from the government shutdown, expect to see Msia market to test more upside. Watch out Msia inflation rate Dec 17 at 12PM on 24 Jan & interest rate decision at 3PM on 25 Jan.
Daily chart show FKLI may begins a RSI overbought correction, with trend sideway to higher. In hourly chart, technical indicators show a rebound signal and traded in between 1819.5-1839, after retreat from high of 1845.5.
Price Level to monitor today:
Resistance : 1839 1845.5
Support : 1819.5 1803
Recommend Trading Plan for the day:
1. Buy 1840, stop 1836, profit 1844/1848
2. If unable to sustain above 1840 and back to sideway, range trading in between 1819-1839, take 8pts stop with 8pts profit.
3. Follow hourly stochastic crossover in overbought zone for sell and crossover in oversold zone for buy. Stop and profit follow 2 hourly ATR.
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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