May17: FKLI (Weekly) - Sideways-Down <R1 @161x-3x 📉🐻

Momentum turn from neutral to slight weakness...
Major Support at 150x-3x still holds, albeit weekly close below ema100 (~158x area)

❇️Fundamentals:

• Market sentiment likely dragged down by deteriorating COVID situations, both nationwide & worldwide.
  
• Q2 GDP figure unlikely to be favorable (despite mainstream media bullish projections)
  
• Commodities price spike + money printing: Inflationary pressure will continue to add to households burden & current economic woes.
  

❇️Interested in initiating Positional Shorts on FKLI should:
1) Upon failing of S1 zone, 2) COVID worsen, 3) Tightening on MCO3.0 SOP

Happy Hunting! Stay Safe! ⭐️
-JK-