Thursday, November 21, 2019

22 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 hold above the support levels and dived to 1586.5 within the first trading hour yesterday and had a firm closed at 1590.5 at the end of the session. The market is said to be hovering between range, until it has a firmer breakdown below 1582.

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Plan A : Attempt to long if market does not breach below 1586. Cut below 1582. 
Plan B : Targets are 1590, 1593.5 and 1597.
Plan C : Attempt to sell if markets falls below 1582. Cut above 1586.
Plan D :Targets are 1578, 1574.5 and 1571.

FCPO

FCPO went through a persistent profit taking selling yesterday after failing to breach through its resistance level at 2713. Market look likely to continue facing pressure selling pressure today as Dalian and bean are performing negatively.

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Plan A : Long only if market supports firmly above 2635. Targets are 2666 and 2680.
Plan B : Short if market fails to support above 2666. Targets are 2635 and 2603.

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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