Sunday, December 1, 2019

02 December 2019 BMD

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

LOCAL MARKET

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FKLI

FKLI continued to decline on the last trading of November and eventually settled at the lowest point of the month at 1564. This was mainly dragged down by the fall in the several counters in KLCI including Tenaga and bank sector.

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Plan A : Continue to hold short if markets does not breach above 1574. Cut above 1579.
Plan B : Targets are 1571, 1568 and 1565.
Plan C : Attempt to long if market rebounds from 1565. Cut below 1561.
Plan D :Targets are 1569, 1572.5 and 1576.



FCPO

FCPO opened at day high and dived to 2685 during second half opening, later stabilized above 2700 at mid-afternoon. Dalian closed positive with strong recovery towards the final hour and soybean oil remain stagnant at negative territories. Ringgit stays weak at RM4.17 against the greenback.

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Plan A : Short if market failed to support above 2707. Targets are 2690 and 2674.
Plan B : Long only if market supported firm above 2707. Targets are 2720 and 2736.


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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