FKLI Updates

Daily Futures Commentaries: [FKLI Malaysia Index] 13/8/2018 - Foreign fund selling return, keep index below 1810

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Publish date: Mon, 13 Aug 2018, 08:44 AM
Here we update timely info about FKLI

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13/8/2018

 
*FKLI Aug 18*
 
Previous Close: 1801.5 +2.5
 
FKLI retreated from its gains of 1810 as weighed down by foreign fund selling and weak foreign market performance, yet managed to close above 1800 level. US stock market dropped near 200pts last Friday and -70 more points this morning, FKLI likely gap down and test support.
 
Hourly chart showed FKLI retrace from 61.8% Fibo retracement of previous down swing 1900-1655 and see some correction on RSI overbought. Stay cautious of potential RSI bearish divergence.Close below 1796 to trigger a double top bearish signal.
 
 *Classic Support & Resistance*
Resistance: 1810.5 1821.5
Support: 1788 1776.5
 
 *Recommend Trading Plan for the day:*
1. Look for sell signal below 1796.
1. Look for buy signal above 1810.5 yesterday high.
 
 *FKLI Margin Requirement*
Overnight MYR 4000
Spread MYR 500
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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