Monday, July 15, 2019

16 July 2019 BMD

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

LOCAL MARKET

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FKLI

FKLI was like riding on a roller-coaster on the first trading day of the week whereby the market had a quick decline and followed with an intense rebound before it then stayed flat until the market closed at 1673. The intraday signal is a bit haywired now but the overall big picture is still showing a minor selling signal.

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Plan A : Attempt to sell if market does not break above 1679
Plan B : Cut above 1683
Plan C : Consider buying if market stays firm above 1667
Plan D : Cut below 1664



FCPO

FCPO opened higher this morning due to the higher prices in the switch month. Dalian and soybean oil are mixed while Ringgit strengthen against the greenback at RM4.10. 

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Plan A : Buy if market supported above 1972. Targets are 1987 and 2011.
Plan B : Sell if market failed to support above 1972. Targets are 1955 and 1940.
Plan C : Above 1982, do not enter.
Plan D : Below 1962, do not enter.



Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters, Nasdaq.com, Market Watch 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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