12/11/2018
*FKLI Nov 18*
Previous Close: 1709 -11
FKLI erased part of its previous gains on foreign fund selling and as tracking weakness in foreign markets. Below expected Msia construction output & industrial also weighed down the index. Today watch out for Msia retail sales on 12pm. US stock market down more than 200pts, FKLI likely to gap down.
Hourly technical indicators crossing down, may test for more technical correction. Rebound stage remains as long as index sustain above 38.2 Fibo retracement level which is around 1690.
*Classic Support & Resistance*
Resistance: 1729 1749.5
Support: 1785.5 1665.5
*Recommend Trading Plan for the day:*
1. Buy 1710, stop 1704, profit 1716/1722.
2. Look for sell signal below 1700.
*FKLI Margin Requirement*
Overnight MYR 4000
Spread MYR 500
Disclaimer: Idea sharing only, trade at your own risk.
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