FKLI Updates

Daily Futures Commentaries: [FKLI Malaysia Index] 13/6/2018 - Sharp fall to test 50% Fibo retracement ahead of long weekend

InvestorsDoctor
Publish date: Wed, 13 Jun 2018, 08:50 AM
InvestorsDoctor
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13/6/2018

*FKLI Jun 18*

Previous Close: 1757 -20.5

FKLI fell sharply ahead of long weekend as weighed down by foreign fund selling and as market stay aside for FOMC meeting result. Watch out for US interest rate decision at 2am tomorrow. US stock market closed in flat yesterday but global sentiment remain stable as overall after US-North Korea summit, FKLI may track foreign sentiment to recover some losses.

Daily chart formed a sharp break down while hourly chart's technical indicators also more to bearish, may test 50% retracement level of previous upswing (1702-1796.5) at around 1750.

*Classic Support & Resistance*
Resistance: 1772 1796.5
Support: 1735 1713

*Recommend Trading Plan for the day:*
1. If price rebound 1st, find a sell signal at 1767 or above, stop 1773, profit at risk reward ratio 1:1 or 1:2.
2. Watch out for rebound buy signal if price holds above 1750 level.

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

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