7/5/2019
*FKLI May 19*
Previous Close: 1625 -6.5
FKLI traded at discount to KLCI, ended lower than previous trading day on pressure of US-China tension but managed to hold above 1620 level. US narrowed down its losses to less than 100pts, FKLI may test to rebound 1st, yet upside likely limited by weakness in foreign futures this morning. Watch out for Msia interest rate decision on 3pm today.
Daily chart showed FKLI may enter sideway because of narrowing BB. Trend is more to bearish but be cautious of potential RSI bullish divergence.
*Classic Support & Resistance*
Resistance: 1634.5 1640.5
Support: 1615 1609.5
*Recommend Trading Plan for the day*
1. Trade in range 1610-1640
*FKLI Margin Requirement*
Overnight MYR 4000
Spread MYR 500
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