Tuesday, December 10, 2019

11 December 2019 BMD

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

LOCAL MARKET

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FKLI

FKLI gradually recovered in the second session but failed to hold above the support levels and had a quick dive to close at 1562 as followed with fall in KLCI. 

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Plan A : Attempt to long if markets rebounds from 1557. Cut below 1554.
Plan B : Targets are 1560, 1563.5 and 1567.
Plan C : Attempt to short if market does not breach above 1567.5. Cut above 1571.
Plan D :Targets are 1564, 1561 and 1558.



FCPO

FCPO opened almost unchanged later dived to 2870 the first session. Dalian closed slightly negative while soybean oil is lying at negative territories. Ringgit stays at RM4.16 against the greenback.

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Plan A : Short if market failed to support above 2885. Targets are 2869 and 2852.
Plan B : Long only if market supported firm above 2885. Targets are 2898 and 2915.



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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