Saturday, October 31, 2020

2 November 2020 BMD

                         We are expanding to                   global  markets 

 See next article for the trade plan

LOCAL MARKET

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FKLI    

FKLI tumbled on Friday as profit taking amid cautious sentiment ahead of next week's U.S. presidential election and also Malaysia's Budget 2021 together with BNM's monetary policy meeting. 

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Plan A : Buy only if market test support at 1449.5 and rebound. Targets are 1462.5 and 1470. Exit below 1442.

Plan B : Remain short as long as market consistently trading below 1470. Targets are 1462.5 and 1456.5. Exit above 1476.



FCPO

FCPO continue with the weak sentiment from last Friday after tipping at 3123. Dalian closed -170 at 6142 while soybean oil -0.55. Ringgit stays at RM4.15 against the greenback.

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Plan A : Long if market supported firm above 2953. Targets are 2970 and 2989.

Plan B : Short if market failed to support above 2953. Targets are 2935 and 2920.



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 correction, 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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