Futures Kuala Lumpur Index take a break?
After recent rallied with the strength in plantation stocks and banking industries served support, market somehow touched on the resistance level at 1600-1620.
Profit taking activities likely to step in, with nearest support level at 1550-1565.
MACD showed divergence too. Who holding long position please take note, as market may have small correction after recent surged.
-market likely to move lower if market stays below 1605; target market range 1580-1605
-support level:
S1 1600 S2 1594 S3 1588
-resistance level:
R1 1610 R2 1616 R3 1622
-yesterday daily settlement: 1605.5
mid: 1605.8
strategy 1: Short if stay below 1600
tg stop 1606
tg exit 1582-1594
strategy 2: Long if stay above 1615
tg stop 1609
tg exit 1621-1633
Profit taking activities likely to step in, with nearest support level at 1550-1565.
MACD showed divergence too. Who holding long position please take note, as market may have small correction after recent surged.
-market likely to move lower if market stays below 1605; target market range 1580-1605
-support level:
S1 1600 S2 1594 S3 1588
-resistance level:
R1 1610 R2 1616 R3 1622
-yesterday daily settlement: 1605.5
mid: 1605.8
strategy 1: Short if stay below 1600
tg stop 1606
tg exit 1582-1594
strategy 2: Long if stay above 1615
tg stop 1609
tg exit 1621-1633