Wednesday, October 23, 2019

24 October 2019 BMD

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

LOCAL MARKET

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FKLI

The FKLI declined from the peak at 1577 to the low of 1567 yesterday as the global markets were being affected by the increased tension between the United States and China regards of trade war dispute. The KLCI was shredded in red for the full session yesterday which partially contributed to the decline in FKLI as well.

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Plan A : Attempt to buy only if market rebounds from 1571. Cut below 1567.
Plan B : Targets are 1574 and 1577.5.
Plan C : Sell if market does not breach above 1575. Cut above 1579.
Plan D : Targets are 1571.5, 1568 and 1564.5.



FCPO
FCPO retraced yesterday's late afternoon after failing to breakthrough the 2359. Today the market erased the losses and once again attempting for an upside during the second session. Dalian and soybean oil are lying at positive territories while Ringgit stays at RM4.18 against the greenback.
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Plan A : Buy if market supported firm above 2346. Targets are 2365 and 2382.
Plan B : Sell only if market failed to support above 2346. Targets are 2331 and 2315.



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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