18/7/2019
*FKLI Jul 19*
Previous Close: 1659 -10.5
FKLI fell to near 1 month low yesterday on foreign fund selling while US stock market retreated from record high with more than 100pts losses last night, FKLI may continue its correction stage.
4H chart break down from head & shoulder bearish pattern below 1670, more downside ahead, watch out for 38.2-61.8 Fibo retracement level of swing 1573-1699.5, which is around 1620-1650.
*Classic Support & Resistance*
Resistance: 1674 1688
Support: 1647 1633
*Recommend Trading Plan for the day*
1. Sell 1656, stop 1659, profit 1653/1650
*FKLI Margin Requirement*
Overnight MYR 4000
Spread MYR 500
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