Wednesday, January 8, 2020

09 January 2020 BMD

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

LOCAL MARKET

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FKLI

FKLI opened gap down for more than 15-points yesterday as the market was feared with the increased tension between Iran and United States. The market tried to rebound but failed to sustain above support levels and continued to trade below 1600's.

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Plan A : Attempt to short if market recovers but does not breach above 1606. Cut above 1610.
Plan B : Targets are 1601.5, 1598 and 1595.
Plan C : Attempt to long if market rebounds from 1600. Cut below 1598.
Plan D :Targets are 1604, 1607 and 1610.



FCPO

FCPO surged another round up back to 3100's after opening and it's holding firm 'till present. Dalian and soybean oil are rather strong today while Ringgit strengthen against the greenback at RM4.08.

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Plan A : Long if market retraced and supported firm above 3084. Targets are 3101 and 3139.
Plan B : Short only if market failed to support above 3084. Targets are 3069 and 3052. 



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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