Tuesday, January 7, 2020

08 January 2020 BMD

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

LOCAL MARKET

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FKLI

FKLI recovered to the tip at 1621 as the market were boosted with buying pressure but however it failed to sustain and closed at 1614.5.

US Dow Jones plunges down more than 400-points as Iran fires missiles at multiple bases housing US troops in Iraq.

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Plan A : Attempt to short if market breaks below 1598. Cut above 1602.
Plan B : Targets are 1595, 1591 and 1587.5.
Plan C : Attempt to long if market tested and rebounds from 1586. Cut below 1582.5.
Plan D :Targets are 1589, 1592.5 and 1597.



FCPO


FCPO dived to 3024 in the morning later rebounded to near morning high at 3059 half-way through the second session. Dalian and soybean oil are mixed today while Ringgit stays at RM4.10.

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Plan A : Long if market supported firm above 3044. Targets are 3061 and 3085.
Plan B : Short if market failed to support above 3044. Targets are 3030 and 3019.


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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