Tuesday, August 20, 2019

21 August 2019 BMD

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

LOCAL MARKET

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FKLI 


FKLI gradually inching up yesterday but somehow still remain resisted around 1600 despite it was tipped at 1601. Market could have consolidating between 1580-1600 for the time being until it finds a breakthrough to either direction. Hence, traders are advised to be alert and play within range.

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Plan A : Continue to short if market stays below 1602
Plan B : Cut above 1606
Plan C : Consider to long if market tested and rebounds from 1592
Plan D : Cut below 1588


FCPO

FCPO hovers around 2160's to 2170's, not much range for the day at the moment. Dalian and soybean oil are slightly positive while Ringgit stays at RM4.17 against the greenback.  


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Plan A : Sell if market failed to support above 2164. Targets are 2150 and 2138.
Plan B : Buy only if market supported well above 2178. Targets are 2190 and 2202.
Plan C : Between 2164 and 2178, 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 r.isks, consequences and suitability of that investment.

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