Sunday, August 23, 2020

24 August 2020 BMD

                                 We are expanding to global markets. 

 See next article for the trade plan.

LOCAL MARKET

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FKLI

FKLI remain firm last Friday in a tight range trading day. Market is expected to open slightly positive today after gains in Friday's Dow. Trading range however, could remain tight unless it breaches and stays firm above 1584-level today.

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Plan A : Short if market recovers but still trades below 1584. Targets are 1578 and 1572. Cut above 1586.

Plan B : Consider buy only if the market stays firm above 1572. Targets are 1578 and 1584. Cut below 1565.



FCPO

FCPO dived to 2648 first session, recovered losses made after lunch to 2694. Dalian closed -12 at 5590 while soybean oil +0.21. Ringgit stays strong against the greenback at RM4.17.

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Plan A : Long if market supported firm above 2682. Targets are 2700 and 2720.

Plan B : Short if market failed to support above 2682. Targets are 2665 and 2643.




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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