5/3/2019
*FKLI Mar 19*
Previous Close: 1686.5 -11.5
FKLI move against foreign market and extended its losses to below 1690 yesterday as weighed down by foreign fund selling. US stock market erased its gains with more than 200pts of losses last night, may limit upside of FKLI. Today watch out for Msia interest rate decision on 3pm.
Hourly chart formed more lower highs & lows to test 50% Fibo retracement level of swing 1631.5-1729.5, which is around 1680 level, close below that level to trigger more downside.
*Classic Support & Resistance*
Resistance: 1698.5 1709.5
Support: 1676.5 1664
*Recommend Trading Plan for the day*
1. Look for sell signal below 1680.
*FKLI Margin Requirement*
Overnight MYR 4000
Spread MYR 500
Disclaimer: Idea sharing only, trade at your own risk.
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