Tuesday, November 5, 2019

06 November 2019 BMD

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

LOCAL MARKET

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FKLI

FKLI once broke below 1600's to 1598 in the first session yesterday despite it achieved a record high at 1610. The seller pressure forced the market to dive to 1598 and then rebounded again to closed at 1604.5, followed the recovery in the KLCI.

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Plan A : Attempt to long if market sustain well above 1601.5. Cut below 1597.
Plan B : Targets are 1604, 1607 and 1610.
Plan C : Sell if market does not breach above 1610. Cut above 1615.
Plan D : Targets are 1606.5, 1602 and 1598.



FCPO
FCPO opened low this morning and later shot up to 2544 for the first session. Dalian and soybean oil stays at negative territories while Ringgit remain strong against the greenback at RM4.13.

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Plan A : Long if market supported firm above 2533. Targets are 2548 and 2563.

Plan B : Short if market failed to support above 2533. Targets are 2520 and 2512.


Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters, Nasdaq.com, Bloomberg, CNN, Market Watch, FT.com, the Star online, forbes.com and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correctaysion, 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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