Monday, June 1, 2020

02 June 2020 BMD

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

LOCAL MARKET

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FKLI

FKLI surged convincingly yesterday, settled near day's high level. Market is expected to remain firm once again today and possibly surge past the 1500-level. Short covering activities might dominate today's trading despite tensions in United States over racism issue.

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Plan A : Attempt to short only if market surges at opening and fails to breach above 1498. Targets are 1488, 1485 and 1479. Cut above 1501.

Plan B : Long if market tested and rebounds from 1487. Targets are 1496, 1502 and 1509. Cut below 1484.



FCPO

FCPO struggled to stay firm above 2300's but in vain, it was then dragged down early second session. Dalian closed +18 ended 4804 while soybean oil -0.08. Ringgit stays at RM4.29 against the greenback. 

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Plan A : Long if market supported firm above 2293. Targets are 2317 and 2342.

Plan B : Short if market failed to support above 2293. Targets are 2275 and 2251.





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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