11 Aug 2023 BMD

  LOCAL MARKET

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FKLI

FBM KLCI lost 3.10 points or 0.21% to 1458.93 points. Following yesterday’s pullback, the FBM KLCI could hover below the resistance of 1465 points amid uncertainties ahead of the state elections tomorrow.

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Plan A : Consider short if the market stays below 1458. Targets are 1450 and 1439.

Plan B : Attempt long if the market stays above 1458. Targets are 1460 and 1466

FCPO

 

FCPO moved sideway trying to break the resistance around 3760. Dalian traded -72 at 7392 while soybean oil traded +0.19 at 60.67 for the day. Ringgit weaken to 4.58 against the greenback.

 

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Plan A : Short if market fail to support above 3720. Targets are 3699  and 3660.

Plan B : Long only if market supported above 3720. Targets are 3749 and 3779.

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that investment.