Get started

Fkli

Dow, FKLI & Hang Seng - Again The Retracement LevelAgain the 3 markets have rebound from recent new low. According to elliott wave and fibonacci structure, the market correction size fall between 38.2% to 61.8%. Shall the current market market to prove as trend reversal? Trader please monitor the following price level. Dow Jones: Retracement level at 25203, 25537 and 25871. Higher than 25871 indicate price reversal from bear market. FKLI: Retracement level at 1697.5, 1707.5 and 1717. Higher than 1717 indicate price reversal from bear market. Hang Seng: Retracement level at 25132, 25340 and 25548. Higher than 25548 indicate price reversal from bear market. If current rally the price do not go higher than the above levels, market remain in bearish structure.
DJ:DJI
by Johnkiew
Dow, FKLI & Hang Seng - The 50% RetracementThe sharp declined in indexes market have not make significant come back yet since 11 Oct. The 3 charts plotted in 60 minitues time frame. From the left - Dow declined 7.6% from the peak, and rebound to 50% ratracement ( 25510) and trade below. - FKLI declined 6.7% from the peak, and rebound to slightly higher than 50% ratracement (1738) and retraced. - Hang Seng declined 10.5% from the recent peak, among the worst performing market, and rebound to 50% ratracement (25775) and trade below. The current price structure in correction stage with no indication of bullish yet.
HKEX:HSI1!
by Johnkiew
FKLI - Congesting Range On the left daily chart, FKLI is forming a head and shoulder like formation which seen recent high 1807.5 almost symmetrically to Aug high. The formation was not confirmed and will be invalid if price make higher high and price did not fall below 1764.5. Daily ATR (Average True Range) seen FKLI daily range at 6 months low. Intra day trader may found difficulties on intraday trading if the range continue to congest. As the daily chart suggest, the correction in intraday is expect to be tightening range if without breakout. The current ATR in 30 minutes time frame at only 2.5 points. Current price resistance at 1800, price above 1800 may see expanding range. Sideway range between 1799 to 1787.
MYX:FKLI1!
by Johnkiew
3
FKLI - Short Term CorrectionFKLI set for mixed start of the day, with Dow pull back from historical high as Fed decision ahead. Yesterday intraday high 1797 was 50% retracement of previous swing from 1807.5. This suggest the price in short term selling structure. As price below 1797, FKLI may retest yesterday low 1787. Major support at 1786 & 1781 (see left chart). Overall trend remain bullish while short term correction. As FKLI Sep moving ahead expiry, trader may start trading Oct contract if intention to hold beyond this week. Malaysia data for the week ahead: 12:00 PM PPI YoY AUG 03:00 PM M3 Money Supply YoY AUG
MYX:FKLI1!Short
by Johnkiew
FKLI - Bullish Sentiment RemainMarket quickly pull back from yesterday projection 1798.5 zone and fill the opening gap. The intraday price structure found support at 50% retracement level (left chart) and close at mid of intraday range. With Dow trading at 8 months high, FKLI expect to retest 1800 zone. Trader please aware that the current FKLI vs Dow correlation at only 20% positive related. Emerging market sentiment still under-perform US market. A few scenarios illustrate for intraday trading as follow: 1. Price trade higher than 1798.5, breakup may rally to 1805 and 1809. 2. Price hover below 1798.5, FKLI trading in range support at 1789 and resistance at 1797. 3. Price move lower than 1789 will change the current structure to sell.
MYX:FKLI1!Long
by Johnkiew
FKLI - Rebound to 1798.5Market arguably the latest development likely to be less intense than actual feared. Market have adapt US-China tariff war with quick rebound on yesterday. FKLI found support at 50% retracement level 1781 (left chart) and coincidentally projection of down swing at 1782 (right chart). FKLI quickly rebound following regional sentiment like Dow & Hang Seng during Intraday. The current rebound is likely to continue, up swing projection on the right chart, if price above 1791.5, next impulsive size at 1798.5. This price level was near to previous high. With Nikkei up, FKLI likely to open high and rebound higher.
MYX:FKLI1!Long
by Johnkiew
FKLI - Potential retracement to SellIn Daily chart (left chart), current price did not breakup 1804, this suggest the market remain in correction zone while bias to the downside. The current rally will be reverse if price trade below 1793.5. With Dow trading near 1% below Friday 17:15, FKLI likely to open gap down. Stay Tune for price projection after first swing has formed. Trader please watch out following price level for potential support resistance & price indication: Resistance : 1800 & 1804 Support : 1792 & 1785
MYX:FKLI1!Short
by Johnkiew