Wednesday, December 4, 2019

05 December 2019 BMD

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

LOCAL MARKET

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FKLI

FKLI supported above 1547.5 for the second day yesterday and seems like the market was trying to stamp its foot well above this level. The market then had a firm closed at 1560 which shows the buying pressure which was boosted by the recovery in the regional markets.

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Plan A : Consider to short if markets does not breach above 1569.5. Cut above 1573.
Plan B : Targets are 1566, 1563 and 1560.5.
Plan C : Attempt to long if market stays firm and rebounds from 1557. Cut below 1554.5.
Plan D :Targets are 1560, 1563.5 and 1568.



FCPO

FCPO opened higher this morning, continue to rocket to 2799 towards the second half. Dalian and soybean oil are slightly positive while Ringgit stays at RM4.17 against the greenback.

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Afternoon Plan
Plan A : Long if market retraced but supported firm above 2779. Targets are 2795 and 2812.
Plan B : Short only if market failed to support above 2779. Targets are 2764 and 2751.


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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