FKLI Updates

Daily Futures Commentaries: [FKLI Malaysia Index] 1/8/2018 - Foreign fund return again to push Malaysia market to test above 1780!

InvestorsDoctor
Publish date: Wed, 01 Aug 2018, 08:32 AM
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1/8/2018

 
*FKLI Aug 18*
 
Previous Close: 1779 +9
 
FKLI ended with higher high to test 1780 level as supported by late buying of foreign fund, we will see whether this foreign fund buying momentum can be sustainable. US stock market rebounded more than 100pts last night, FKLI likely to continue test resistance. Watch out for Msia manufacturing PMI Jul 18 at 830am.
 
Hourly chart showed FKLI break out from triangle pattern, trigger further upside, but watch out for potential technical correction in short term as there is a RSI bearish divergence.
 
 *Classic Support & Resistance*
Resistance: 1795.5 1807
Support: 1754 1739
 
 *Recommend Trading Plan for the day:*
1. Buy 1782, stop 1777, profit 1787/1792.
2. If price retrace 1st, look for buy signal near support of 1770/1763.
 
 *FKLI Margin Requirement*
Overnight MYR 4000
Spread MYR 500
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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