Wednesday, August 21, 2019

22 August 2019 BMD

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

LOCAL MARKET

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FKLI 


FKLI had a last minute plunge down yesterday to close at below 1590's as the cash market had a weak close as well at day's low. The direction seems to be a little clearer now but it may still be in range play.

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Plan A : Continue to short if market stays below 1596.5
Plan B : Cut above 1601
Plan C : Consider to long if market tested and rebounds from 1583
Plan D : Cut below 1579



FCPO

FCPO continue to surge today after experiencing the reversal yesterday's evening. Dalian closed +90 while soybean oil turned to positive net change to +0.11. Ringgit stays at RM4.17 against the greenback.  

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Afternoon Plan

Plan A : Sell if market rebounded and resisted around 2265. Targets are 2248 and 2234.
Plan B : Buy only if market retraced and supported firm above 2234. Targets are 2246 and 2258.
Plan C : Above 2265, no fresh position.
Plan D : Below 2234, 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 r.isks, consequences and suitability of that investment.

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