Thursday, June 18, 2020

19 June 2020 BMD

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

LOCAL MARKET

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FKLI

FKLI failed to rebound yesterday and gradually declined followed with the weak KLCI, despite regional market rebounded later in the session. The weak trend in FKLI is starting to show some lights to the seller, but it is still unclear yet.

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Plan A : Short if the market stays below 1512. Targets are 1508, 1504 and 1500. Cut above 1517.

Plan B : Long if market does not fall below 1500. Targets are 1504, 1507 and 1511. Cut below 1497.



FCPO

FCPO surged this morning aligned with the positively strong performance from the Dalian market. Dalian ended +132 at 5150 while soybean oil +0.33. Ringgit stays at RM4.27 against the greenback.


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Plan A : Long if market supported firm above 2424. Targets are 2451 and 2475.
Plan B : Short if market failed to support above 2424. Targets are 2399 and 2370.




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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