Tuesday, July 30, 2019

31 July 2019 BMD

We are expanding to global markets. See next article for the trade plan.

LOCAL MARKET

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FKLI

FKLI had a weak day on the first day of the week as the market dived below 1640's and had a weak close at 1641.5. The signal is getting clearer as followed with the weak trend in KLCI.

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Plan A : Continue to sell if market rebounded but resisted around 1646
Plan B : Cut above 1651
Plan C : Consider buying only if market rebounds from 1646.5
Plan D : Cut below 1641



FCPO

FCPO traded the same range as last Monday for the first session today. Dalian and soybean oil are insignificant while Ringgit stays at RM4.12 against the greenback.

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Plan A : Buy only if market supported firm above 2067. Targets are 2089 and 2105.
Plan B : Sell if market failed to support above 2067. Targets are 2053 and 2038.
Plan C : Above 2072, do not enter.
Plan D : Below 2062, do not enter. 




Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters, Nasdaq.com, Market Watch 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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