Wednesday, August 5, 2020

6 August 2020 BMD

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

LOCAL MARKET

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FKLI

Market was somewhat subdued yesterday before managed to settle above daily moving average support. Market is expected to open higher today after overnight Dow gained 373-points. However, gains could be capped today with profit taking activities expected to be seen for cash counters.

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Plan A : Long if market holds firm above 1568. Targets are 1581 and 1592. Cut below 1563.


Plan B : Attempt short if the market recovers but stays below 1590. Targets are 1576 and 1568. Cut above 1597.



FCPO

FCPO flattened after opening higher in the morning. Dalian closed -14 at 5904 first session while soybean oil -0.07. Ringgit strengthen against the greenback at RM4.18.

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Plan A : Short if market failed to support above 2727. Targets are 2709 and 2685.

Plan B : Long if market doesn't retrace much and supported firm above 2727. Targets are 2744 and 2768.




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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