02 June 2021 BMD

                               LOCAL MARKET

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FKLI

FKLI gained 2.5-points yesterday with a tight trading range of 1579-1586.5. Market likely to have a muted opening today with investors still staying cautious despite some positive signs in the past 2 trading days. Consolidation could kick in unless there's a clear break out from the current trading range of 1571-1600.

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Plan A : Attempt buy if market tests support at 1575.5 and rebound. Targets are 1581.5 and 1589.

Plan B : Consider short if market surges but fails to breach above 1589. Targets are 1583 and 1576.

FCPO

FCPO climbed back to 4000-mark the second session aligned with the strong rebound from regional markets. Dalian closed +242 at 7808 while soybean oil traded +0.42 at 67.81. Ringgit stays at RM4.12 against the greenback.

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Afternoon Plan

Plan A : Long if market retraced but supported firm above 3991. Targets are 4015 and 4041.

Plan B : Short only if market failed to support above 3991. Targets are 3968 and 3945.

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.