Thursday, August 22, 2019

23 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 recovered despite it was moving slowly, but somehow the market was still resisted around 1600 whereby the peak yesterday was 1600.5. It seems like the market is still playing within the range without a clear direction shown yet.

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Plan A : Attempt to short if market stays below 1600
Plan B : Cut above 1604
Plan C : Consider to long if market tested and rebounds from 1588
Plan D : Cut below 1585


FCPO

FCPO visited new recent high today at 2271. The tremendous upside since mid of July has raised 355 points from the low recorded on 10 July. Dalian closed strong today and soybean oil lying slightly towards the negative territories. Ringgit weakened against the greenback at RM4.18.  



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Afternoon Plan

Plan A : Sell if market failed to support above 2259. Targets are 2247 and 2230.
Plan B : Buy if market retraced but supported above 2230. Targets are 2247 and 2259.
Plan C : Buy only if market supported firm above 2259. Targets are 2273 and 2285.




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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