Bluechips Index broke above FR 61.8% 1513 at close
FKLI to rise in tandem from change in sentiments
A breakout may have occured in the FBMKLCI but the lower volume makes it's legitimate strength suspect. The refusal of the FKLI Spot contract to move into higher premiums complicate matters even more.
FKLI traders in ZLBT are reminded to watch the FBMKLCI 1513 support cautiously.
When there is a change in polarity principles such as when Fibo R 61.8% was resistance yesterday turned support today, the index, if it's strength is genuine, have no reasons to revisit areas below 1513 again. Should that happen then then this can be view as a FALSE BREAK which is usually accompanied by low volumes.
Refer to their supports & resistances in both charts & data provided. And for protective measures, LONG position holder are reminded to keep a TS (trailing stop) handy to offset any sudden flurry sell.
Short position holders are also reminded to surrender your positions when another resistance level is taken out. U cannot win money by being stubborn.
HAPPY TRADING & GOODLUCK2ALL
No comments:
Post a Comment