31/7/2018
*FKLI Aug 18*
Previous Close: 1770 +6
Please be noted that Jul 18 contract will be expired by today (31/7), traders may choose to trade Aug 18 contract. FKLI closed higher to test previous high, today continue to close above 1770 to show more upside, but be cautious of foreign fund net sell and US stock market fell more than 100pts last night may drag down FKLI today.
Hourly chart showed FKLI move in triangle pattern with tight range, wait for breakout. Watch out for potential RSI bearish divergence.
*Classic Support & Resistance*
Resistance: 1795.5 1807
Support: 1754 1739
*Recommend Trading Plan for the day:*
1. Buy 1771, stop 1767, profit 1775/1779.
2. If price retrace 1st, look for buy signal near yesterday low of 1754.
*FKLI Margin Requirement*
Overnight MYR 4000
Spread MYR 500
Disclaimer: Idea sharing only, trade at your own risk.
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