Monday, March 23, 2020

24 March 2020 BMD

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

LOCAL MARKET

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FKLI

FKLI opened with a gap down of 55-points yesterday at 1250 then had a quick dive to 1222.5 before it then gradually recovered with the KLCI. 

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Plan A : Attempt to short if market recovers but does not breach above 1288. Targets are 1284.5, 1281 and 1277.
Plan B : Cut above 1293.
Plan C : Long only if market rebounds firmly from 1253. Targets are 1256.5, 1260 and 1264.
Plan D : Cut below 1249.


FCPO

FCPO opened higher this morning and stabilized above 2330's the mid afternoon session. Dalian closed +190 ended 4776 while soybean oil is slightly positive. Ringgit remain weak at RM4.43 against the greenback.

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Plan A : Long if market supported firm above 2324. Targets are 2356 and 2383.
Plan B : Short if market failed to support above 2324. Targets are 2299 and 2265.




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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