FKLI Updates

Daily Futures Commentaries: [FKLI Malaysia Index] 30/11/2018 - Remain in triangle pattern, wait for breakout

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Publish date: Fri, 30 Nov 2018, 08:40 AM
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30/11/2018

 
*FKLI Dec 18*
 
Previous Close: 1695 +7.5
 
Please be noted that Nov 18 contract will be expired by today 30/11, traders may choose to trade Dec 18. FKLI ended higher on return of foreign fund buying and as tracking strong gains in US stock market. US stock market down a bit last night, FKLI may trade in range 1st. 
 
Hourly chart showed FKLI had been traded in narrower range since Oct 18, wait for a breakout. Yesterday index retreat from triangle pattern upper channel, showed a sideway, which is also below 50% Fibo retracement level of swing 1748.5-1665, required to close above 1717 to trigger more upside.
 
 *Classic Support & Resistance* 
Resistance: 1711 1725.5
Support: 1679.5 1665
 
 *Recommend Trading Plan for the day:*
1. If index test to close downside gap 1st, look for buy signal if sustain above 1680.
 
 *FKLI Margin Requirement* 
Overnight MYR 4000
Spread MYR 500
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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