FKLI Updates

Daily Futures Commentaries: [FKLI Malaysia Index] 13/5/2019 - Trade war continue to weigh down market

InvestorsDoctor
Publish date: Mon, 13 May 2019, 08:42 AM
Here we update timely info about FKLI

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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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