Sunday, December 15, 2019

16 December 2019 BMD

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

LOCAL MARKET

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FKLI

FKLI rallied to monthly's high at 1579.5 despite it was flatten the whole session until it followed KLCI to close a little lower at 1576.5. The market seems to have stamping its foot well above support levels and this would be more convincing if it can breach above 1580's today and sustain well above this level.


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Plan A : Attempt to long if markets trades firmly above 1574.5. Cut below 1570.
Plan B : Targets are 1578, 1581 and 1585.
Plan C : Attempt to short if market does not breach above 1581. Cut above 1585.
Plan D :Targets are 1577.5, 1574 and 1571.



FCPO

FCPO stood firm above 2850's and visited 2885 during the early second session. Dalian closed negative ended at 5976 while soybean oil hovers around positive net change. Ringgit stays at RM4.14 against the greenback. 

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Plan A : Short if market failed to support above 2876. Targets are 2862 and 2848.
Plan B : Long if market supported firm above 2876. Targets are 2892 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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