11/10/2018
FKLI Oct 18
Previous Close: 1737 -35
FKLI hit its lowest since July this year on uncertainties of Malaysia taxes and Budget 2019 and weighed down by foreign fund selling. US stock market fell more than 800pts, futures now also fell more than 130pts, FKLI likely to gap down and test 1700 level. Today watch out for Msia industrial production on 12pm.
Daily & hourly charts formed head & shoulder bearish signal, target projected at around 1700, trend more to bearish with RSI in oversold, watch out for short term technical rebound.
Classic Support & Resistance
Resistance: 1763 1779
Support: 1714 1698
Recommend Trading Plan for the day:
1. Sell 1732, stop 1740, profit 1724/1716.
FKLI Margin Requirement
Overnight MYR 4000
Spread MYR 500
Disclaimer: Idea sharing only, trade at your own risk.
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