Thursday, October 31, 2019

01 November 2019 BMD

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

LOCAL MARKET

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FKLI

The FKLI was flatten the whole day until it had a sudden pulled up in the second session due to the surge in several banking counters in KLCI. The October contract of FKLI settled at monthly high at 1595.5.

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Plan A : Attempt to buy if market tested and rebounds from 1584. Cut below 1580.
Plan B : Targets are 1587.5, 1591 and 1594.
Plan C : Sell if market stays below 1593. Cut above 1598.
Plan D : Targets are 1590.5, 1588 and 1584.5.



FCPO

FCPO opened high this morning to 2505 and later retraced back to 2460's the second session. Dalian closed negative and soybean oil is lying at negative territories while Ringgit strengthen against the greenback at RM4.16. 

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Plan A : Short if market failed to support above 2481. Targets are 2465 and 2449.
Plan B : Long only if market supported firm above 2481. Targets are 2495 and 2514.




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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