20 August 2021 BMD

                                   LOCAL MARKET

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FKLI    

FKLI ended 13.5-points lower on Thursday following Wall Street's slide that came after the U.S. Federal Reserve minutes signaled a pullback in stimulus measures. Domestic political uncertainty on who is going to be the next PM too is pushing investors to stay sideline. However, with the surprise announcement on further relaxation for restaurant dine-in and reopening of night markets will likely lend support to the market today.

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Plan A : Attempt sell if market trades below 1521.5. Targets are 1513 and 1509.5.

Plan B : Consider long if market supports above 1513 and rebound. Targets are 1518 and 1521.5.

FCPO  

FCPO rebounded this morning to near 4300-mark. However, the strong selling pressure depressed the prices back down below 4200-mark during early second session. Dalian closed -98 at 8060 while soybean oil traded +0.45 at 60.37. Ringgit stays at RM4.23 against the greenback.

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Afternoon Plan

Plan A : Long only if market supported firm above 4248. Targets are 4270 and 4292.

Plan B : Short if market rebounded but failed to support above 4248. Targets are 4225 and 4204.

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.