Sunday, December 29, 2019

30 December 2019 BMD

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

LOCAL MARKET

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FKLI

FKLI was supported well above support levels on last Friday and inching up gradually to 1615.5 before it then closed at 1611 for the week. The market could have more room to surge if it can support above 1608.5 this week.

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Plan A : Attempt to long if markets trades firmly above 1608.5. Cut below 1604.
Plan B : Targets are 1611, 1614 and 1617.5.
Plan C : Attempt to short if market does not breach above 1616. Cut above 1620.
Plan D :Targets are 1613 and 1609.5.



FCPO

FCPO opened lower this morning but market later erased the losses and visited high at 3086 the second session. Dalian closed relatively strong while soybean oil stays at positive territories. Ringgit further strengthen to RM4.10 against the greenback.

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Afternoon Plan 

Plan A : Short if market resisted around 3086. Targets are 3069 and 3053.
Plan B : Long if market retraced but supported firm above 3069. Targets are 3082 and 3098. 




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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