13/5/2019
*FKLI May 19*
Previous Close: 1608 -8.5
FKLI hit new low since Nov 2016 on trade war worries and foreign fund selling. US stock market wiped out its last Friday's gains on this morning because of US-China trade talk uncertainties. Watch out for Msia retail sales at 12pm today.
Weekly chart showed FKLI edged lower below 38.2 Fibo retracement level of swing 1501-1900, more to bearish, but be cautious of RSI bullish divergence.
*Classic Support & Resistance*
Resistance: 1620 1633.5
Support: 1600 1591.5 1579
*Recommend Trading Plan for the day*
1. Sell 1606, stop 1609, profit 1603/1600/1597
*FKLI Margin Requirement*
Overnight MYR 4000
Spread MYR 500
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