FKLI tumbled yesterday, touching a low of 1762.5 before settling at 1764.5. Market is expected to remain weak ahead of more profit taking activities. With the absence of several markets due to various holidays, market is expected to open little change but rebound will likely be met with selling. Failure to hold above 1762.5 would see market heading towards the next support of 1755 next.
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Plan A : Hold selling as long as market stays trading below 1771
Plan B : Exit above 1771
Plan C : Consider intraday buying only if market manage to hold firm above 1762.5
Plan D : Cut below 1757
FCPO
FCPO rebounded highest to 2549 and progressively retraced to 2509 which made the low for yesterday. Dalian remain closed while soybean oil is down slightly. Ringgit stays at RM4.28 against the greenback.
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Plan A : Buy only if market held firm above 2526. Targets are 2543 and 2560.
Plan B : Sell if market rebounded and resisted around 2543. Targets are 2526, 2496 and 2471.
Plan C : Above 2543, no fresh position.
Plan D : Below 2526, 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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