Monday, June 22, 2020

23 June 2020 BMD

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

LOCAL MARKET

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FKLI

Market seem to have found its temporary bottom around the 1493-level and hold up pretty well yesterday. Market is expected to open firm today as overnight Dow gained 153-points. FKLI could potentially surge further today, especially if it is able to trade firmly above the 1513.5 level.


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Plan A : Short if the market surges but fails to breach above 1528. Targets are 1519, 1514 and 1508. Cut above 1532.


Plan B : Long if market trades firmly above 1513.5. Targets are 1519, 1524 and 1528. Cut below 1508.



FCPO

FCPO attempted to rebound this morning but in vain, prices later depressed back to 2420 region early second session. Dalian closed -52 at 5104 while soybean oil is -0.17. Ringgit stays at RM4.27 against the greenback.

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Plan A : Long if market retraced but supported firm above 2437. Targets are 2459 and 2482.

Plan B : Short if market failed to support above 2437. Targets are 2415 and 2398.



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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