U.S. stocks slumped on Friday with expectation of interest rate raise after the strong job data is released.
Hang Seng continue with its downtrend with minimal rebound last week and today it will be no surprise of market to resume down South.
Plan A : Overnight seller hold on to position. Resistance is 24210 and 24375. Target is 23747 and 23636.
Plan B : Intraday investor might sell if market could rebound but resist at 24210. Target is 23747.
Plan C : Buyer stay out of market.
Plan D : Above 24300, do nothing.
Plan E : Below 24100, do nothing.
FKLI
Viral effect from the U.S. market causes the FKLI to follow the trend.
Plan A : Overnight seller hold on to position. Resistance is looking at 1794 and 1783. Target is 1759 and 1737.5.
Plan B : Intraday investor may stay out today as market might be too low to sell.
Plan C : Buyer stay out of market.
Plan D : Above 1783, do nothing.
Plan E : Below 1777, do nothing.
FCPO
FCPO continue to move downwards as market remains weak. Dalian and overnight soybean oil are trading low, therefore it is lightly the market will open lower. Ringgit traded lower today at RM 3.68 against the greenback.
Plan A : Overnight seller hold on to position. Resistance is 2304. Target is 2231 and 2216.
Plan B : Seller may sell if market could rebound and resisted at 2292. Target is 2253.
Plan C : Buyer may stay out.
Plan D : Above 2300, do nothing.
Plan E : Below 2270, do nothing.
*Disclaimer: This information is intended to assist professional investors. 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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