MALAYSIA DERIVATIVES EXCHANGE >>> FBM KLCI Futures

Bears To Rule FKLI Before Technical Rebound

Looking at the FBM KLCI Daily Chart, the prices sank below the Middle Bollinger Band closing just below the 1500 psychological support.

This will have an adverse effect on investors sentiment. The bickerings at the G20 & APEC Meeting in Seoul over the weekend also turned out to be market depressant with major asian bourses ending mostly in the red.

Bottom line is >>> fear & risk level enhanced all round which will send the FKLI into deeper trouble for LONGs.

ZL have NO FKLI POSITIONS albeit LONG or SHORT
Technically any techie will rekomen a SELL butnot ZL

I'm looking to BUY ON WEAKNESS but the catch is which price at 2 charts provided below is a good LONG entry?

From a scalper's point of view, the 60 minutes support at 1480.0 level would be a possible BUY entry with 1479.5 Friday's rebound marking.

From the FKLI Daily Chart, the EMA 35 & EMA 45 plus the Mid median Line of the Andrew's Pitchfork may be holdable support. If all 3 fails then we'll be sinking further to as posibly low as 1450 before the bulls can find their footing again.

FKLI REKOMEN
BUY ON DIP / SUPPORT
(Keep a handy stoploss to control unnecessary blood loss)

HAPPY TRADING & GOODLUCK
(you'll be needing a lot of those :P)