Thursday, July 9, 2020

10 July 2020 BMD

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

LOCAL MARKET

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FKLI

FKLI gradually recovered in the second session to close at 1577.5, after the dive in the early morning to below 1570's. The market is still showing unclear direction for now, but however it was well supported above the support levels as it climbs back slowly to 1570's.

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Plan A : Short if the market stays below 1579. Targets are 1575, 1571 and 1566. Cut above 1584.

Plan B : Long if market rebounds from 1567.5. Targets are 1571, 1575 and 1580. Cut below 1564.



FCPO

FCPO gap-down this morning attempted to rebound the first session. Dalian traded weak and brought the price down by 86 and soybean oil -0.10. Ringgit stays at RM4.26 against the greenback. 

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Plan A : Long only if market supported firm above 2386. Targets are 2401 and 2419.

Plan B : Short if market failed to support above 2386. Targets are 2372 and 2350.





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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