FKLI Updates
Daily Futures Commentaries: [FKLI Malaysia Index] 20/12/2018 - Strong rebound for the 1st day but drawback of DJI likely to limit FKLI upside today
InvestorsDoctor
Publish date: Thu, 20 Dec 2018, 08:39 AM
InvestorsDoctor
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Here we update timely info about FKLI
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20/12/2018
*FKLI Dec 18*
Previous Close: 1654.5 +14.5
FKLI strong rebound for the 1st day after recent large sell off in stock market as boosted by foreign market recovery, but be cautious as foreign fund remain as net seller. US stock market turn to losses with more than 350pts after interest rate hike, FKLI may gap down and test support 1st.
Daily chart formed a technical rebound from outside of BB while hourly chart testing RSI bullish divergence but overall index move in a downward channel, required more higher highs & lows and close above 1676 to trigger more upside. Fibo retracement level from 1631.5-1656.5 yesterday high suggested that rebound stage remain intact as long as index above 1640 level.
*Classic Support & Resistance*
Resistance: 1664.5 1676
Support: 1643 1631.5
*Recommend Trading Plan for the day:*
1. Look for buy signal above 1656.5
2. If index retrace 1st, look for buy signal if index sustain above 1640.
*FKLI Margin Requirement*
Overnight MYR 4000
Spread MYR 500
Disclaimer: Idea sharing only, trade at your own risk.
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More articles on FKLI Updates
Daily Futures Commentaries: [FKLI Malaysia Index] 30/12/2019 - 1595 or 1620 wait for breakout
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