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FTSE Bursa Malaysia KLCI FuturesFTSE Bursa Malaysia KLCI FuturesFTSE Bursa Malaysia KLCI Futures

FTSE Bursa Malaysia KLCI Futures

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FKLI1! trade ideas

FKLI - Short Term CorrectionFKLI set for mixed start of the day, with Dow pull back from historical high as Fed decision ahead. Yesterday intraday high 1797 was 50% retracement of previous swing from 1807.5. This suggest the price in short term selling structure. As price below 1797, FKLI may retest yesterday low 1787. Major support at 1786 & 1781 (see left chart). Overall trend remain bullish while short term correction. As FKLI Sep moving ahead expiry, trader may start trading Oct contract if intention to hold beyond this week. Malaysia data for the week ahead: 12:00 PM PPI YoY AUG 03:00 PM M3 Money Supply YoY AUG
MYX:FKLI1!Short
by Johnkiew
FKLI - Bullish Sentiment RemainMarket quickly pull back from yesterday projection 1798.5 zone and fill the opening gap. The intraday price structure found support at 50% retracement level (left chart) and close at mid of intraday range. With Dow trading at 8 months high, FKLI expect to retest 1800 zone. Trader please aware that the current FKLI vs Dow correlation at only 20% positive related. Emerging market sentiment still under-perform US market. A few scenarios illustrate for intraday trading as follow: 1. Price trade higher than 1798.5, breakup may rally to 1805 and 1809. 2. Price hover below 1798.5, FKLI trading in range support at 1789 and resistance at 1797. 3. Price move lower than 1789 will change the current structure to sell.
MYX:FKLI1!Long
by Johnkiew
FKLI - Rebound to 1798.5Market arguably the latest development likely to be less intense than actual feared. Market have adapt US-China tariff war with quick rebound on yesterday. FKLI found support at 50% retracement level 1781 (left chart) and coincidentally projection of down swing at 1782 (right chart). FKLI quickly rebound following regional sentiment like Dow & Hang Seng during Intraday. The current rebound is likely to continue, up swing projection on the right chart, if price above 1791.5, next impulsive size at 1798.5. This price level was near to previous high. With Nikkei up, FKLI likely to open high and rebound higher.
MYX:FKLI1!Long
by Johnkiew
FKLI - Potential retracement to SellIn Daily chart (left chart), current price did not breakup 1804, this suggest the market remain in correction zone while bias to the downside. The current rally will be reverse if price trade below 1793.5. With Dow trading near 1% below Friday 17:15, FKLI likely to open gap down. Stay Tune for price projection after first swing has formed. Trader please watch out following price level for potential support resistance & price indication: Resistance : 1800 & 1804 Support : 1792 & 1785
MYX:FKLI1!Short
by Johnkiew