FKLI Updates

Daily Futures Commentaries: [FKLI Malaysia Index] 4/6/2019 - Close above 1650 to trigger more upside

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Publish date: Tue, 04 Jun 2019, 09:14 AM
Here we update timely info about FKLI

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4/6/2019

 
FKLI Jun 19
 
Previous Close:  1649.5 +4
 
FKLI closed at near 2 month high yesterday despite weakness in foreign index market and below than expected Msia manufacturing PMI & balance of trade. US market recovered its earlier losses and close with small gains, FKLI may continue to test resistance 1st.
 
Daily chart showed FKLI to test 50% - 61.8% Fibo retracement level which is around 1650-1670, close above 1650 to trigger more rebound, but be cautious of RSI bearish divergence in hourly chart.
 
Classic Support & Resistance 
Resistance: 1656.5 1669.5
Support: 1636 1626
 
Recommend Trading Plan for the day
1. Buy 1651, stop 1648, profit 1654/1657
2. Sell 1647 for technical correction, stop 1650, profit 1644/1641
 
FKLI Margin Requirement 
Overnight  MYR 4000
Spread       MYR 500
 
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