Tuesday, July 23, 2019

24 July 2019 BMD

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

LOCAL MARKET

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FKLI

FKLI rebounded followed with the cash market yesterday and slightly broke above 1660 to the tip at 1661, but then retraced a little to close at 1658.5. Several resistances were broken and the market seems stamping its feet well on the supports. 

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Plan A : Continue to sell if market surge but does not breach above 1671
Plan B : Cut above 1675
Plan C : Consider buying if market stays firm above 1655
Plan D : Cut below 1651


FCPO

FCPO opened gap up this morning and surged to high of 2028 for the first session. Market finally made its way through the clouds yesterday and the effort continue. Dalian and soybean oil are positively strong while Ringgit stays at RM4.11 against the greenback.  

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Afternoon Plan 

Plan A : Buy if market retraced but supported above 2019. Targets are 2031 and 2043.
Plan B : Sell if market failed to support above 2019. Targets are 2007 and 1995.
Plan C : Above 2024, no fresh position.
Plan D : Below 2014, no fresh position.



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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