Tuesday, October 29, 2019

30 October 2019 BMD

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

LOCAL MARKET

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FKLI

The market gapped up in the opening and continued to inching up to the peak at 1578.5 before it then closed at 1576.5. The buying pressure is building up for the window dressing effect but the market however is still resisted before 1580's.

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Plan A : Attempt to buy if market declines but rebounds from 1573. Cut below 1569.
Plan B : Targets are 1576, 1578.5 and 1581.
Plan C : Sell if market does not breach above 1582. Cut above 1586.
Plan D : Targets are 1578, 1575.5 and 1572.


FCPO
FCPO opened gap up with strong performance from Dalian market and it continue to hover around day high till mid afternoon. Soybean oil is lying at positive territories while Ringgit remain at RM4.18 against the greenback.
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Plan A : Short only if market failed to support above 2466. Targets are 2450 and 2438.
Plan B : Long if market retraced but supported firm above 2436. Targets are 2450 and 2466.


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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