Monday, December 16, 2019

17 December 2019 BMD

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

LOCAL MARKET

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FKLI

FKLI had a last minute pull back yesterday as KLCI fell to have a weak close on the first trading day of the week. However, this may not stop the market to continue to have a pre-Christmas rally as the market seems to have supported well above the support levels.


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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 opened high this morning but prices could not sustain above 2900's and it gradually roll back down to 2880's. Dalian closed positively high while soybean oil remain high. Ringgit stays at RM4.14 against the greenback.  

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Plan A : Long if market supported firm above 2876. Targets are 2890 and 2907.
Plan B : Short only if market failed to support above 2876. Targets are 2860 and 2845.


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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