19/12/2018
FKLI Dec 18
Previous Close: 1640 -7
FKLI hit another new low to test 1630 level as weighed down by bearish foreign market and foreign fund selling. US stock market rebounded more than 80pts but still lower than 5pm closing price yesterday. FKLI likely to retest 1630 support level. Today watch out for Msia inflation rate on 12pm.
Hourly chart break lower low and formed an oversold rebound, but trend is still more to bearish as the index below 38.2 Fibo retracement level.
Classic Support & Resistance
Resistance: 1664.5 1676
Support: 1629 1606.5
Recommend Trading Plan for the day:
1. If expect yesterday day high 1645 to hold, sell 1640 or above, stop 1645, profit 1635/1630.
2. Look for technical rebound buy signal above 1645.
FKLI Margin Requirement
Overnight MYR 4000
Spread MYR 500
Disclaimer: Idea sharing only, trade at your own risk.
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