Thursday, December 19, 2019

20 December 2019 BMD

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

LOCAL MARKET

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FKLI

FKLI was rather flat yesterday despite the impeachment of President Trump breaking the market in the first session. The market is supporting firmly above 1590's and possibly the window dressing effect would continue to the year of 2020.

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Plan A : Continue to long if markets trades firmly above 1597.5. Cut below 1594.
Plan B : Targets are 1601, 1604 and 1608.
Plan C : Attempt to short if market does not breach above 1610. Cut above 1614.
Plan D :Targets are 1607, 1604 and 1600.5.



FCPO

FCPO gap-up in the morning sending the market back to 2900's region. Dalian closed strong, raising the price to  3.17% to end at 6184. Soybean oil remain slightly up while Ringgit stays at RM4.14 against the greenback.

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Plan A : Short if market failed to support above 2904. Targets are 2890 and 2878.
Plan B : Long if market doesn't retrace much but supported firm above 2904. Targets are 2915 and 2932.



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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