Tuesday, June 9, 2020

10 June 2020 BMD

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

LOCAL MARKET

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FKLI

FKLI tipped at 1586.5 before it then gradually declined and settled at 1562 for the day. The buying pressure faded as the Dow suffered losses after several days of gaining.

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Plan A : Attempt to short only if market does not breach above 1573. Targets are 1569, 1565 and 1560.5. Cut above 1578.

Plan B : Long if market rebounds from 1568. Targets are 1572, 1575 and 1579. Cut below 1564.



FCPO


FCPO attempted to stay above 2400's today but in vain, it  then continue to hover around 2380's to 2390's till mid-afternoon. Dalian closed +74 at 5024 while soybean oil +0.07. Ringgit stays at RM4.26 against the greenback. 


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Plan A : Long if market supported firm above 2392. Targets are 2415 and 2439.


Plan B : Short if market failed to support above 2392. Targets are 2370 and 2349.





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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