Market had great correction after four consecutive days of downwards movement. Switch month is around the corner and the forward month seems bearish to investor.
Plan A : Buy if market could 1604. Targets are 1612.5 and 1625.
Plan B : Sell if market could not break 1612.5. Targets are 1603 and 1582.
Plan C : Above 1613, do nothing.
Plan D : Below 1603, do nothing.
FCPO
Market has been running on good uptrend since it breakaway from 2207. Buyer are quite aggressive in buying in position especially towards the closing of most days. However, it is not advisable to hold fresh buyer position as market has gone on uptrend for quite some time. Dalian and soybean oil are quite mixed today while Ringgit stay weak at RM4.38 against the greenback.
Plan A : Overnight buyer consider to exit position. Support is 2310 and 2292. Target is 2350 and 2432.
Plan B : Intraday investor may sell if market resist at 2324. Target is 2292 and 2275. Hold overnight if market stay below 2270.
Plan C : Buyer may stay out.
Plan D : Above 2350, do nothing.
Plan E : Below 2270, do nothing.
*Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters 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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