U.S. stocks fell in a choppy session on Tuesday as lower oil prices pressured energy stocks for a fifth day and weak Chinese trade data reignited fears of a global slowdown.
Hong Kong stocks closed at a two-month low on Tuesday, tracking sluggish global markets, as slumping oil prices dented already fragile investor confidence ahead of a likely U.S. rate hike. China's CPI data will be released at 9.30 am this morning.
Plan A : Above 22118, do nothing
Plan B : Below 21660, do nothing
Plan C : Attempt selling if market rebounds but fails to break above 21976
Plan D : Cut above 22070
Plan E : Consider intraday buy if market gaps down but rebounds from 21660
Plan F : Cut below 21660
FKLI
Market managed to survived from heavy selling with market rebounded after touching an intraday low of 1655.5. With UMNO assembly being the focus this week, market might just hover around here for the rest of the week. Any surge and hold beyond 1672 might start a rally but it will be important too for the market to hold resilient above 1655 to prevent itself from dropping further.
Plan A : Attempt buying if market holds firm above 1664
Plan B : Cut below 1658
Plan C : Consider intraday sell if market surges but fails to break above 1672
Plan D : Cut above 1674
FCPO
FCPO lost its ground on Tuesday, giving back the gain from Monday. Dalian and soybean oil are slightly weak while Ringgit remains at RM4.26 against the greenback.
Plan A : Overnight buyer hold on to position unless market breach support at 2391. Targets are 2489 and 2547.
Plan B : Buy if market support above 2399. Targets are 2431, 2453 and 2460.
Plan C : Sell if market rebounded and resisted at 2418. Targets are 2399, 2391 and 2385.
Plan D : Above 2420, no fresh position.
Plan E : Below 2400, no fresh position.
*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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