Tuesday, December 15, 2020

16 December 2020 BMD

                          We are expanding to                   global  markets 

 See next article for the trade plan

LOCAL MARKET

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FKLI    

Market rebounded from early slump on Tuesday after Budget 2021 was approved with a vote of 111 vs 108. Investors cheered the decision with buying support in heavyweights counters. FKLI is expected to open firm today after overnight U.S. markets performed positively throughout the three indices.

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Plan A : Remain buy as long as market stays firm above 1669.5. Targets are 1680 and 1686.

Plan B : Consider sell if market surges but fails to breach above 1686. Targets are 1675 and 1670.



FCPO

FCPO switched to a new month today, lowering the price back below 3400. Dalian closed at 6720, +110 while soybean oil traded at 39.28, +0.09. Ringgit stays at RM4.05 against the greenback.  

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Plan A : Short if market failed to support above 3383. Targets are 3360 and 3338.

Plan B : Long if market retraced but supported firm above 3383. Targets are 3401 and 3425.



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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