HAIDOJO_trading

FKLI TRADING : 303) downtrend oh donwtrend

Short
MYX:FKLI1!   KUALA LUMPUR COMPOSITE INDEX FUTURES
this is number 303...
fkli-sept ended yesterday. Nothing much to report actually but it is still in downtrend for the fkli. It is downtrend and sideway as fkli-oct is more sensitive to the news events and market sentiment. Support is ranging frm 1513- 1524 and resistance frm 1552.5 - 1563.

IF the price breaks above the 1552.5-1563 resistance, THEN it will retest the 1580-1600 resistance. IF it falls below the 1513-1524 support level , THEN it will go to 1482-1497.

I am of the opinion that if the market still lacks any sentiment or "exciting" news, it will continue to slide and drop... as there is still much uncertainty and the market is still haunted by the ghoully effect of covid-19, it is still more doom and gloom than glory .

As in term of technical analyst, fkli-oct needs to break higher than 1552.5-1563 to reverse the downtrend and invites the bull home.

*plan your trade and trade your plan... gud luck*

higher resistance : 1580-1600

immediate resistance : 1552.5-1563

immediate support : 1513-1524

critical support : 1480-1500

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