FBMKLCI
Immediate Task – Take Over 1500 Level!
The FBMKLCI still faced with tough resistance at 1500 level (SMA 200 & psychological level), the index will need to garner more buying power to break through this level, else, the chances for the index to suffer sharp retracement will be high. The immediate support is seen at 1487 level, followed by 1475 level and the immediate resistance is seen at 1500 level, followed by 1510 level.
FKLI
Opportunity to Initiate Short Position?
Can investors still initiate short position? The answer is “yes” for risk taker investors. At this level, short position will be more in favor compare to long position and risk taker investors can take a chance to initiate the short position, especially any level above 1500.
Immediate support is seen at 1480 level, followed by 1465 level and immediate resistance is seen at 1500 level, followed by 1510 level.
FCPO
Initiate Long Position?
The direction is clearer at the moment, as long as the FCPO is able to sustain above the SMA 20 (3122), the FCPO might head towards next resistance level of 3217. Investors can initiate long position with the stop loss level being place around 3100 level.
Immediate support is seen at 3100 level, followed by 3040 level and immediate resistance is seen at 3150 level, followed by 3217 level.
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