Sunday, January 21, 2024

22 Jan 2024 BMD




 LOCAL MARKET


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FKLI

The FBM KLCI rebounded (+0.49%) on last Friday which aligned with the predominantly positive trend in regional markets after Wall Street ended higher overnight.

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Plan A : Attempt long if the market stays above 1485. Targets are 1492 and 1496


Plan B : Consider short if the market stays below 1485. Targets are 1481 and 1474.



FCPO
 
FCPO consolidates and trying to break the resistance around 3950. Dalian traded +8 at 7474 while soybean oil traded +0.27 at 47.17 for the day. Ringgit weaken to 4.72 against the greenback.


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Plan A : Long only if market supported above 3910. Targets are 3932 and 3959.

Plan B : Short if market fail to support above 3910. Targets are 3888 and 3862.



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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