Tuesday, July 28, 2020

29 July 2020 BMD

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

LOCAL MARKET

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FKLI

FKLI recovered well yesterday, partially from the strong recovery in KLCI in especially rubber counters. The market looks like stamping its feet firm above the support levels with the strong confidence from the buyers in the market.

However, we may expect a lower opening today in FKLI as the overnight Dow closed lower for more than 200-points.

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Plan A : Long if market holds firm above 1604.5. Targets are 1608, 1612 and 1616. Cut below 1599.

Plan B : Attempt short if the market fails to hold above 1612. Targets are 1609, 1605 and 1601. Cut above 1616.



FCPO

FCPO is rather flat first session and remain firm above 2600's so far. Dalian closed -36 at 5622 while soybean oil +0.19. Ringgit stays at RM4.24 against the greenback. 

To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for August subscription.

Plan A : Long if market supported firm above 2638. Targets are 2655 and 2672.

Plan B : Short if market failed to support above 2638. Targets are 2619 and 2598.



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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