Wednesday, January 15, 2020

16 January 2020 BMD

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

LOCAL MARKET

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FKLI

FKLI had a last minute rebounds as the KLCI closed higher due to the positive news from U.S. and China signing on the phase one trade deal.

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Plan A : Attempt to short if market recovers but fails to breach above 1598. Cut above 1602.
Plan B : Targets are 1594.5, 1591 and 1588.
Plan C : Consider to long if market rebounds firmly from 1589. Cut below 1585.5.
Plan D :Targets are 1592.5, 1596 and 1599.



FCPO

FCPO opened lower this morning but later rebounded back to 2920's before the first session close. Dalian closed weak while soybean oil remain insignificant. Ringgit stays at RM4.06 against the greenback.

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Plan A : Short if market failed to support above 2894. Targets are 2881 and 2866.
Plan B : Long if market supported firm above 2894. Targets are 2915 and 2932.




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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