Wednesday, November 20, 2019

21 November 2019 BMD

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

LOCAL MARKET

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FKLI

FKLI failed to sustain above 1600's and tangled between 1595-1600's for the whole session but with greater selling pressure within the market, in addition with the declines in the global markets.

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Plan A : Attempt to long if market stands firm above 1595.5. Cut below 1591. 
Plan B : Targets are 1598, 1601 and 1604.
Plan C : Attempt to sell if markets fails to breach above 1601. Cut above 1605.
Plan D :Targets are 1596.5, 1593 and 1590.



FCPO

FCPO run wild today after tipping at 2709 the first-half. Market dived down the second-half due to the turnaround from Dalian and soybean oil. Ringgit weakened against the greenback at RM4.16 against the greenback.

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Plan A : Long only if market supported firm above 2691. Targets are 2715 and 2728.
Plan B :
Short if market failed to support above 2691. Targets are 2676 and 2664.



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 prospectivinvestor 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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