25 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 yesterday to a low of 1574 before settling at 1580.5. Market is expected to recover at the opening after overnight Dow gained 452-points to close above the psychological level of 30,000. Gains however likely to be capped as tomorrow will be the day the Budget2021 to be debated in the Parliament and risk of not getting it passed will likely cause investors to be cautious today.

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Plan A : Attempt buy if market trades resiliently above 1591. Targets are 1598 and 1605

Plan B : Consider short only if market opens higher but couldn't breach and stays firm above 1605. Targets are 1598 and 1592.

FCPO

FCPO opened higher this morning, ceiling at 3290 the first session and the prices later flattened till now. Dalian closed +68 at 6730 while soybean oil +0.19 at 38.25. Ringgit stays at RM4.08 against the greenback.

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Afternoon Plan

Plan A : Short if market failed to support above 3261. Targets are 3242 and 3219.

Plan B : Long if market doesn't retrace much and supported firm above 3261. Targets are 3279 and 3298.

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.