Thursday, August 29, 2019

30 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 strong recovery to 1599 after it dived to 1585.5, despite it was still failed to breakthrough the resistance level at 1600. However, with the window dressing effect takes part today and the long weekend ahead for the Malaysia markets, we may expect a tight range trading today for both August and September contracts.

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*September contract*
Plan A : Attempt selling if market rebound but fails to breach above 1598.5
Plan B : Cut above 1603
Plan C : Consider buying only if market stays firm above 1591.5 and rebounds
Plan D : Cut below 1587



FCPO

FCPO reversed the losses made in the morning, prices surged to 2246 the second session. Dalian closed weak at 4774, down 92 points or -1.89%. Soybean oil lying at positive net change while Ringgit hovers around RM4.21 against the greenback.
To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for September subscription.


Plan A : Sell if market failed to support above 2238. Targets are 2227 and 2214.
Plan B : Buy only if market retraced but supported firm above 2227. Targets are 2238 and 2252.
Plan C : Above 2238, no fresh position.
Plan D : Below 2227, no fresh position. 


Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters, Nasdaq.com, Bloomberg, CNN, Market Watch, FT.com, the Star online, forbes.com and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correctaysion, 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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