9 June 2016

FKLI

The Dow ended above 18,000 for the first time since April on Wednesday as declines in the dollar lifted some commodity-related shares and boosted the outlook for multinationals. China, Hong Kong and Taiwan markets will be closed today in conjunction with Dragon Boat Festival.

Market proven once again yesterday that it is still resilient and refuse to fall. With RM better off at 4.02 against the greenback, FKLI look likely to hold firm above 1659 level once again today. Next target at 1676 look like an achievable objective as long as market stays firm above 1659.

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Plan A : Attempt long if market holds firm above 1659
Plan B : Cut below 1654
Plan C : Consider intraday selling if market surges and retrace from 1676
Plan D : Cut above 1681


FCPO


FCPO resume with the selling flow at earlier session but it got tricky towards the second session after visited the low at 2575. Dalian is closed today while overnight soybean oil was up 60 cents. Ringgit strengthen against U.S. Dollar at RM4.02 to RM4.04.

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Plan A : Sell if market gap up and resisted around 2626. Targets are 2609, 2592 and 2576.
Plan B : Buy if market supported above 2592. Targets are 2609 and 2626. Only apply for morning opening hour. 
Plan C : Above 2626, no fresh position.
Plan D : Below 2592, 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.