Monday, April 20, 2020

21 April 2020 BMD

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

LOCAL MARKET

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FKLI

FKLI tested the resistance and failed to breach across it and gradually declined in the second session to close at 1408.5. With the oil market crash below $0 per barrel, investors are asked to brace for a hard day through.

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Plan A : Continue to to hold short if market stays below 1410. Targets are 1406.5, 1403 and 1399.
Plan B : Cut above 1414.
Plan C : Long if market tested and rebounds from 1397. Targets are 1401, 1404 and 1408.
Plan D : Cut below 1394.



FCPO

FCPO dipped early morning following the tremendous drop in the crude oil yesterday's night. Dalian closed -204 ended 4710 while soybean oil -0.49. Ringgit stays at RM4.38 against the greenback.

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Plan A : Long if market supported firm above 2148. Targets are 2165 and 2190.
Plan B : Short if market doesn't rebound much and fail to support above 2148. Targets are 2125 and 2102.


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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