Monday, September 7, 2020

8 September 2020 BMD

 We are expanding to global markets 

 See next article for the trade plan

LOCAL MARKET

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FKLI

FKLI traded firmly yesterday despite early scare in the morning. Market is expected to open little changed today with immediate support seen at 1511 and 1508. Successful hold above these levels might help market elevated to 1520-level in the coming days.

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Plan A : Short if market stays trading below 1520. Targets are 1511 and 1503. Cut above 1525.

Plan B : Consider buy only if the market stays firm above 1508. Targets are 1515 and 1520. Cut below 1502.



FCPO

FCPO opened higher due to the strong performance from the Dalian market. Dalian closed +76 at 5930 for the first session while soybean oil +0.56. Ringgit weakened against the greenback at RM4.16.

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Plan A : Long if market supported firm above 2842. Targets are 2865 and 2886.
Plan B : Short if market failed to support above 2842. Targets are 2828 and 2807.



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.

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