Monday, December 23, 2019

24 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 for the first session until it then had a breakthrough to the peak at 1619 but still dragged down by KLCI to close lower at 1612. The market is overall still an up-trend but it may hovering above the support levels for the time being as the holiday seasons is here.

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Plan A : Continue to long if markets trades firmly above 1608.5. Cut below 1605.
Plan B : Targets are 1611, 1614 and 1618.
Plan C : Attempt to short if market does not breach above 1616. Cut above 1619.5.
Plan D :Targets are 1613, 1610 and 1606.5.



FCPO

FCPO continued to trade within tight range for the second day and it was moving flat for the whole session.

Dalian and soybean oil turns slight negative today with Ringgit weakened a little to RM4.14 against the greenbacks.

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Plan A : Short if market does not breach above 2910. Targets are 2895, 2883 and  2870.
Plan B : Long if market declines but still supported firm above 2895. Targets are 2908 and 2920.


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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