Monday, July 1, 2019

01 July 2019 BMD

We are expanding to global markets. See next article for the trade plan.

LOCAL MARKET

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FKLI



FKLI continued traded within tight range on the last trading day of June and settled above support level at 1675. The struggle is real in the market between the buyers and the sellers which resulted lack of market direction at this point of time, in addition with the uncertainties among the global markets.

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Plan A : Attempt buying if market stays firm above 1676

Plan B : Cut below 1671
Plan C : Consider selling if market does not breach above 1685
Plan D : Cut above 1688


FCPO

FCPO opened gap-up this morning due to the hike in the overnight soybean oil last Friday. Dalian and soybean oil are lying at positive territories while Ringgit stays strong at RM4.13 against the greenback.

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Plan A : Buy if market supported firm above 1973. Targets are 1988 and 2002.

Plan B : Sell if market failed to support above 1973. Targets are 1958 and 1941.
Plan C : Above 1980, no fresh position.

Plan D : Below 1966, no fresh position. 




Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correction, completion and amendment without notice.As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of that investment.

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