4 August 2020 BMD

We are expanding to global markets. 

 See next article for the trade plan.

LOCAL MARKET

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FKLI

FKLI headed south throughout yesterday with minimal recovery. However, market managed to support above daily support level of 1563 and stand a chance of recovery today after overnight Dow gained 236-points. Trading could be caught between 1563-1596 today unless there's a major breakout from this range.

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Plan A : Long if market holds firm above 1568. Targets are 1576 and 1593. Cut below 1563.

Plan B : Attempt short if the market recovers but stays below 1593. Targets are 1577 and 1569. Cut above 1597.

FCPO

FCPO opened high second session following the strong performance from the RBD Dalian market. Dalian rose 3% while soybean oil +0.34. Ringgit strengthen against the greenback at RM4.21.

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Afternoon Plan 
Plan A : Short if market failed to support above 2777. Targets are 2750 and 2725.

Plan B : Long if market retraced but supported firm above 2747. Targets are 2769 and 2792.

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.