FKLI Updates

Daily Futures Commentaries: [FKLI Malaysia Index] 31/1/2019 - Retreat from high at around Fibo retracement level, expect to move in BB channel

InvestorsDoctor
Publish date: Thu, 31 Jan 2019, 08:35 AM
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Here we update timely info about FKLI

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31/1/2019

 
*FKLI Feb 19*
 
Previous Close: 1685 -9.5
 
Please be noted that Jan 19 contract will be expired by today, traders may choose to trade Feb 19. FKLI fell to below 1690 yesterday as market stay cautious ahead of long weekend and FOMC meeting. US stock market rebound strongly for more than 400pts after the FOMC meeting, FKLI may gap up and retest resistance.
 
4H chart showed FKLI retreat from 38.2 Fibo retracement level of swing 1822.5-1632.5, which is also outside of upper BB. FKLI likely to move within BB channel.
 
 *Classic Support & Resistance* 
Resistance: 1711 1725.5
Support: 1670.5 1659.5
 
 *Recommend Trading Plan for the day:*
1. If expect FKLI to track strength of US market, buy 1688, stop 1684, profit 1692/1696.
2. Sell 1684, stop 1688, profit 1680/1676.
 
 *FKLI Margin Requirement* 
Overnight MYR 5000
Spread MYR 500
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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