05 October 2021 BMD

                                 LOCAL MARKET

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FKLI  

Market remained under pressure on Monday, with FKLI staying below 1520-level for most of the afternoon. Market is expected to open lower today after overnight weakness in U.S. markets but buying opportunity might present if FKLI could support above 1510 and rebound.

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Plan A : Attempt long if market trades firmly above 1510. Targets are 1521 and 1526.

Plan B : Consider short if market surges but fails to breach above 1526. Targets are 1519 and 1510.

FCPO

 

FCPO spiked to a new record high at 4756 in the first session. Prices are trying to stabilize above 4700-mark halfway through the afternoon. Soybean oil traded +0.43 at 59.26 while Ringgit stays at RM4.17 against the greenback.

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Afternoon Plan

Plan A : Long if market retraced but supported firm above 4698. Targets are 4720 and 4741.

Plan B : Short only if market failed to support above 4698. Targets are 4676 and 4655.

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.