Sunday, January 12, 2020

13 January 2020 BMD

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

LOCAL MARKET

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FKLI

FKLI gradually declined on last Friday after tipping at 1606 and a weak closed at 1593.5. The FKLI is little shaky for now after it failed a few attempts to sustain above the support levels.

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Plan A : Attempt to long if market tested and rebounds from 1591. Cut below 1588.
Plan B : Targets are 1594, 1597.5 and 1601.
Plan C : Attempt to short if market does not surge above 1604. Cut above 1608.
Plan D :Targets are 1601, 1597.5, 1594.



FCPO

FCPO were depressed in the first session to 3091 before a recovery back to 3120's the early second session. Dalian closed -20 points at 6384 while soybean oil remain insignificant. Ringgit strengthen against the greenback at RM4.06 .

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Plan A : Long if market supported firm above 3110. Targets are 3125 and 3139.
Plan B : Short if market failed to support above 3110. Targets are 3095 and 3081.





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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