4/1/2018
*FKLI Jan 19*
Previous Close: 1681.5 +17
FKLI climbed strongly to above 1680 yesterday, along with most southeast Asian markets despite major index market like US & China continue to decline. However, US plunged more than 600pts last night, likely to limit upside of FKLI,. Today watch out for Msia balance of trade on 12pm.
Hourly chart showed FKLI rebounded from 50% Fibo retracement level of swing 1631.5-1703, close below 38.2% level to trigger more downside.
*Classic Support & Resistance*
Resistance: 1696.5 1706.5
Support: 1672.5 1664 1655.5
*Recommend Trading Plan for the day:*
1. Buy 1683, stop 1678, stop 1688/1693/1698
2. If expect FKLI to track weakness in US stock market, sell 1678, stop 1683, profit 1673/1668
*FKLI Margin Requirement*
Overnight MYR 4000
Spread MYR 500
Disclaimer: Idea sharing only, trade at your own risk.
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