3/8/2018
*FKLI Aug 18*
Previous Close: 1771.5 -12
FKLI ended its rebound yesterday, closed to test 1770 support level on trade war concerns and retreat of foreign fund. However, US stock market pull back its losses last night, FKLI may test rebound to above 1780 1st. Watch out for balance of trade Jun 18 today at 12pm.
Hourly chart showed FKLI unable to break previous high of 1787, dropped and formed a double top down signal thus retraced from RSI bearish divergence. Now FKLI completed 50% retracement of previous up swing 1754-1787, may go back to rebound stage.
*Classic Support & Resistance*
Resistance: 1787 1800
Support: 1754 1739.
*Recommend Trading Plan for the day:*
1. If expect for a rebound, buy 1772, stop 1767, profit 1777/1782.
2. Sell 1767, stop 1772, profit 1762/1757.
*FKLI Margin Requirement*
Overnight MYR 4000
Spread MYR 500
Disclaimer: Idea sharing only, trade at your own risk.
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