Wednesday, May 31, 2023

1 Jun 2023 BMD


  LOCAL MARKET


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FKLI

FBM KLCI dropped 9.79 points or 0.7% to 1387.12 points on the last day of MSCI rebalancing. Following the recent bearish performance, the FBM KLCI could retest its support of 1372 points.

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Plan A : Consider short if the market stays below 1393. Targets are 1381 and 1371.

Plan B : Attempt long if the market stays above 1393. Targets are 1399 and 1410




FCPO
 
FCPO comes back up after breaking previous low at 3220' hitting new low 3194'. Dalian trade -14 at 6404 while soybean oil traded +0.4 at 46.60. Ringgit maintained at 4.61 against the greenback.
 

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Plan A : Short if market fail to support above 3270. Targets are 3248  and 3210.

Plan B : Long only if market supported above 3270. Targets are 3299 and 3321.



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, mining.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.  

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