Tuesday, July 7, 2020

08 July 2020 BMD

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

LOCAL MARKET

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FKLI

FKLI failed to sustain above the support levels which was led by the profit-taking activities in the market, and resulted the market to close at 1553.5 at the end of the session.

With the overnight Dow which closed near 2% lower, we might expect FKLI to further declining today.

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Plan A : Continue to hold short if the market does not breach above 1565. Targets are 1561, 1557 and 1552. Cut above 1568.

Plan B : Long if market rebounds from 1558. Targets are 1561, 1564 and 1568. Cut below 1555.



FCPO

FCPO flattened for the day without much direction of where the market is heading to. Dalian closed +8 at 5056 while soybean oil -0.11. Ringgit stays at RM4.27 against the greenback.

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Plan A : Long if market supported firm above 2397. Targets are 2412 and 2429.

Plan B : Short if market failed to support above 2397. Targets are 2385 and 2370.




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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