17/12/2018
*FKLI Dec 18*
Previous Close: 1658 -12.5
FKLI reversed its previous gains on last Friday as dragged down by weakening foreign market. US stock market fell near 500pts last week, FKLI may gap down to day to test previous low.
Hourly chart formed lower highs & lows, now testing 38.2 Fibo retracement level around 1658, close below 1647 previous low to trigger more downside to around 1630. Watch out for RSI bullish divergence.
*Classic Support & Resistance*
Resistance: 1676 1692
Support: 1647 1630
*Recommend Trading Plan for the day:*
1. Sell 1655, stop 1659, profit 1651/1647.
2. Look for technical rebound buy signal above 1663.5.
*FKLI Margin Requirement*
Overnight MYR 4000
Spread MYR 500
Disclaimer: Idea sharing only, trade at your own risk.
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