FKLI 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