17 September 2020 BMD

  We are expanding to global markets 

 See next article for the trade plan

LOCAL MARKET

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FKLI

FKLI surged to a high of 1534 on Tuesday before settling at 1529. Heavy buying interest were seen coupled with short covering activities. Market however, is expected to open lower today with U.S. futures all deep in red. Failure to hold above 1520-level today might trigger a new round of selling today but a strong hold above 1520 would see market testing 1534 again either today or tomorrow.

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Plan A : Short if market surges but fails to breach above 1534. Targets are 1523 and 1511. Cut above 1538.

Plan B : Consider buy only if the market stays firm above 1523. Targets are 1528 and 1533. Cut below 1519.

FCPO

FCPO continue to move up North, touching 3002 before a retrace back to 2970's early afternoon session. Dalian closed +120 at 6232 while soybean oil +0.15. Ringgit weakened against the greenback at RM4.14.

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Plan A : Short if market failed to support above 2971. Targets are 2952 and 2933.

Plan B : Long if market retraced then supported firm above 2938. Targets are 2952 and 2978.

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 correction, 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.