21 May 2021 BMD

                                  LOCAL MARKET

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FKLI

FKLI fell 4-points on Thursday as sentiment remained weak amid news that the government was mulling over a full lockdown to tackle the rising cases of Covid-19. Market might open slightly higher today after overnight Dow gained 188-points but gains likely to cap with the prospect of full lockdown in place soon.

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Plan A : Remain sell as long as market stays trading below 1581.5. Targets are 1569 and 1563.

Plan B : Consider long only if market able to hold firm above 1571.5 and rebound. Targets are 1579.5 and 1581.5.

FCPO

FCPO slumped in the morning following the weak overnight regional markets. Prices briefly touched 4037 then rebounded back to 4134 for the first session. Dalian closed -300 at 7650 while soybean oil traded -0.24 at 65.52. Ringgit stays at RM4.14 against the greenback. 

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Plan A : Long if market supported firm above 4085. Targets are 4110 and 4141.

Plan B : Short if market failed to support above 4085. Targets are 4063 and 4038.

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.