Sunday, December 8, 2019

09 December 2019 BMD

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

LOCAL MARKET

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FKLI

FKLI supported well above 1560's on last Friday and gradually inching up to have a firm close at 1568. Buyers were boosted with the positive vibes in the market as well as the regional markets.

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Plan A : Continue to hold long if markets stays above 1565. Cut below 1560.
Plan B : Targets are 1568, 1571.5 and 1574.
Plan C : Attempt to short if market falls below 1564. Cut above 1568.
Plan D :Targets are 1561, 1558 and 1555.


FCPO
FCPO recorded new recent high again this morning to 2915 due to the strong rebound from overnight soybean oil. Dalian closed relatively high today while soybean oil remain insignificant. Ringgit stays at RM4.15 against the greenback. 

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Plan A : Short if market failed to support above 2877. Targets are 2859 and 2842.
Plan B : Long only if market retraced but supported firm above 2877. Targets are 2890 and 2910.




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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