03 June 2021 BMD

                                     LOCAL MARKET

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FKLI

FKLI rose for second consecutive days to close 9.5-points higher on Wednesday as market sentiment was boosted by a further rise in crude oil and crude palm oil prices. Market might set to scale higher as long as it holds firm above 1588-level.

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Plan A : Remain buy as long as market trades firmly above 1588. Targets are 1599.5 and 1606.

Plan B : Consider short if market surges but fails to breach above 1606. Targets are 1593 and 1588.

FCPO

FCPO leaped at open following the significant rebound from the regional markets. Prices surged and stabilized above 4200's since morning. Dalian closed +454 at 8134 while soybean oil traded +1.12 at 71.50. Ringgit stays at RM4.12 against the greenback. 

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Afternoon Plan

Plan A : Long if market retraced but supported firm above 4188. Targets are 4210 and 4238.

Plan B : Short only if market failed to support above 4188. Targets are 4165 and 4141.

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.