Wednesday, June 24, 2020

25 June 2020 BMD

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

LOCAL MARKET

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FKLI

The FKLI once again broke below 1500's yesterday as the selling pressure was chasing the buyers out from their comfort zone. Despite the attempts took to rebound, FKLI seems to have lack of strength to sustain above 1500's.


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Plan A : Continue to short if the market recovers but fails to breach above 1503. Targets are 1499, 1495.5 and 1491. Cut above 1507.

Plan B : Long if market tested and rebounds from 1480. Targets are 1484, 1488 and 1493. Cut below 1477.



FCPO

FCPO dived this morning, successfully broke below 2400-mark, bringing the market back to negative territories. Dalian is closed today while soybean oil is -0.19. Ringgit stays at RM4.27 against the greenback.


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Plan A : Long if market supported firm above 2384. Targets are 2400 and 2414.


Plan B : Short if market failed to support above 2384. Targets are 2366 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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