Thursday, March 12, 2020

13 March 2020 BMD

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

LOCAL MARKET

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FKLI

FKLI continued to decline for more than 2% yesterday as the global economy continues to be shaky due to the worsen situation from the coronavirus outbreak to the whole world.

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Plan A : Remain short as long as market stays below 1389. Targets are 1384, 1381 and 1377.5.
Plan B : Cut above 1393.5.
Plan C : Long only if market tested and rebounds from 1368.5. Targets are 1364, 1360.5 and 1357.
Plan D : Cut below 1364.



FCPO


FCPO fell back to 2190's briefly after opening, then the prices escalated back to 2300's the second session. Dalian closed -50 ended 4676 while soybean oil turnaround to positive net change. Ringgit further weakened against the greenback at RM4.28.


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Plan A : Short if market failed to support above 2322. Targets are 2291 and 2268.

Plan B : Long if market supported firm above 2322. Targets are 2360 and 2395.




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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