Tuesday, June 23, 2020

24 June 2020 BMD

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

LOCAL MARKET

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FKLI

Market had a quick dump for 30-points upon market opening as the whole world was shaken by the trade deal blown off between U.S and China. However, the market then quickly rebounded and stayed sideways until it then gradually climbed back to close above 1500's.

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Plan A : Short if the market fails to breach above 1510.5. Targets are 1507, 1504 and 1500. Cut above 1514.

Plan B : Long if market trades firmly above 1500. Targets are 1514, 1518 and 1522. Cut below 1497.



FCPO

FCPO flattened in the morning and it's likely to hover around 2420's to 2470's as the previous sessions until a breakthrough from the range. Dalian closed -12 at 5106 first session while soybean oil +0.05. Ringgit stays at RM4.27 against the greenback.

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Plan A : Long if market supported firm above 2456. Targets are 2478 and 2502.

Plan B : Short if market failed to support above 2456. Targets are 2433 and 2410.


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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