5/11/2019
*FKLI Nov 19*
Previous Close: 1604.5 +12.5
FKLI jumped to above 1600 level yesterday, which is also 3 month high as supported by bullish sentiment in foreign market. Watch out for Msia interest rate decision on 3pm today. US stock market up again for more than 100pts, expect FKLI to rebound further.
4H chart testing 38.2 Fibo level of swing 1700-1547, close above 1607 for more upside, but be cautious as RSI in overbought.
*Classic Support & Resistance*
Resistance: 1622 1636
Support: 1581 1563
*Recommend Trading Plan for the day*
1. Buy 1607, stop 1604, profit 1610/1613/1616
2, If index retrace, look for buy signal 1597-1600
*FKLI Margin Requirement*
Overnight MYR 3000
Spread MYR 500
Disclaimer: For idea sharing only, trade at your own risk
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