FKLI Updates

Daily Futures Commentaries: [FKLI Malaysia Index] 8/10/2018 - US & Europe markets remain weak, watch out for China market resume

InvestorsDoctor
Publish date: Mon, 08 Oct 2018, 08:37 AM
Here we update timely info about FKLI

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8/10/2018

 
*FKLI Oct 18*
 
Previous Close: 1775.5 -10
 
FKLI settled at 3 week low as tracking weakness in global market and as foreign fund withdrawal. Msia export Aug 18 was below expectation, also weighed down the market. US stock market fell more than 180pts on last Friday, FKLI likely gap down to test previous low.
 
Daily chart showed FKLI testing lower band of BB, close below 1764.5 may down further. Hourly chart showed FKLI closed below 38.2 Fibo retracement of swing 1764.5-1807.5, triggered more downside, but watch out for potential technical rebound as RSI in oversold and hidden bullish divergence.
 
 *Classic Support & Resistance* 
Resistance: 1784 1792
Support: 1764.5 1756
 
 *Recommend Trading Plan for the day:*
1. Sell 1773, stop 1777, profit 1769/1765.
 
 *FKLI Margin Requirement* 
Overnight MYR 4000
Spread MYR 500
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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