Thursday, September 5, 2019

06 September 2019 BMD

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

LOCAL MARKET

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FKLI 

FKLI failed to break above 1600's as the market tipped at 1598.5 and then it declined to 1582.5 before it then closed at 1591 at the end of the session. However, the market may attempt to break above 1600's today as the overnight Dow surged for more than 1% yesterday.

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Plan A : Attempt to buy if market sustain firm above 1593.5
Plan B : Cut below 1589
Plan C : Consider selling only if market does not break above 1603
Plan D : Cut above 1608


FCPO

FCPO was flat for the first session until it had a quick pull up in the second session despite it had a weak close. 
Dalian and soybean oil are weak while Ringgit rebounded against the greenback at RM4.18.

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Plan A : Sell if market opens below 2155. Targets 2140 & 2120.

Plan B : Sell if market fails to breach above 2183. Targets are 2161 & 2140.
Plan C : Buy only if market tested and rebounds from 2183. Targets are 2199, 2215 and 2230.

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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