Monday, January 20, 2020

21 January 2020 BMD

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

LOCAL MARKET

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FKLI

FKLI stay flatten until second session where it gradually declining followed with the weak KLCI. The market sentiment is starting to show some pre-festive seasons movement as the traders are starting to take profit and exiting the markets.

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Plan A : Attempt to long if market trades firmly above 1585. Cut below 1580.
Plan B : Targets are 1588, 1591 and 1594.5.
Plan C : Consider to short if market stays below 1590. Cut above 1594.
Plan D :Targets are 1587, 1584.5 and 1581.



FCPO

FCPO plummeted in the morning, touching 2819, close to the last week low at 2816, later rebounded back to 2876 the second session. Dalian closed weak while soybean oil remain at negative territories. Ringgit stays at RM4.06 against the greenback. 

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Plan A : Long if market supported firm above 2877. Targets are 2890 and 2905.
Plan B : Short if market failed to support above 2877. Targets are 2852 and 2835.



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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