FBM KLCI Futures To Challenge New High
The FKLI broke above its consolidation zone of 1543 - 1557 to high of 1569.0 today, highest level since end May, before settling a point lower at 1563.5 on Wednesday. This breakup coupled with MACD showing sign of bullish crossover provided confirmation on the recent uptrend. Stochastic is hovering above 82%+ margin and RSI closing in on the 70 bullish region.
Expect futures to continue its momentum today with support from gains in external markets and the FBM KLCI. The bluechips index climbed 6.56 points by the close. FKLI is expected to continue it's momentum with resistance pegged at its January high of 1579.5. On the down side, support is seen at Tuesday's low of 1557.5.
ZLBT Trade Strategy
Aggressive trade may long with stop on close below 1543.0
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