17/5/2019
*FKLI May 19*
Previous Close: 1596 -8.5
FKLI fell again to below 1600 level on heavy foreign fund selling. US stock market rose more than 200pts last night, may limit downside of FKLI.
Hourly chart showed FKLI retreated from 50% Fibo retracement level of swing 1645-1573 and closed below 38.2% which is around 1600, more to bearish, likely to retest 1570 level.
*Classic Support & Resistance*
Resistance: 1610 1620
Support: 1586.5 1573
*Recommend Trading Plan for the day*
1. Sell 1594, stop 1597, profit 1591/1588/1585
2. Buy 1599, stop 1596, profit 1602/1605
*FKLI Margin Requirement*
Overnight MYR 4000
Spread MYR 500
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