31/5/2018

FKLI Jun 18

Previous Close: 1708.5 -62.5

Please be noted that May 18 contract will be expired today, traders may choose to trade Jun 18. FKLI marked its sharpest decline in a day since 2008 as heavy foreign fund selling weighed down the market and tracking weakness in global market. Today watch out Msia PPI Apr at 12pm. US market rebounded 300+pts yesterday, FKLI may gap up 1st and testing rebound, yet trend more to bearish, be cautious if trading buy strategy.

Daily chart formed a long black candle to test its low since Nov 2017, close below 1708 to trigger further downside. Technical indicators more to bearish while RSI in oversold, may testing a technical rebound yet upside likely limited for now.

*Classic Support & Resistance*
Resistance: 1722 1732 1741.5
Support: 1700 1689 1661

*Recommend Trading Plan for the day:*
1. Buy 1710 for a technical rebound, stop 1705, profit 1715/1720.
2. Look for sell signal if break below 1702.

*FKLI Margin Requirement*
Intraday MYR 2000
Overnight MYR 4000
Spread MYR 500

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