Thursday, January 16, 2020

17 January 2020 BMD

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

LOCAL MARKET

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FKLI

FKLI gradually rebounds after it dipping down to 1577 and settled at 1588, with the strong push in KLCI. Today the market may have some room to go further north as the trade deal from US and China is bringing the impact to the Asian markets.

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Plan A : Attempt to long if market rebounds from 1588. Cut below 1583.
Plan B : Targets are 1591.5, 1595 and 1598.5.
Plan C : Consider to short if market falls below 1586. Cut above 1590.
Plan D :Targets are 1582, 1579 and 1575.5.


FCPO

FCPO prices recorded fourth consecutive days of losses on concern over slowing demand from China amid the U.S.-China trade deal which would see China purchasing more of agricultural products from U.S. 

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Plan A : Short if market recovers but fails to regain footings above 2900. Targets are 2877 and 2866.

Plan B : Long if market supported firmly above 2887. 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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