20 January 2021 BMD

                     We are expanding to                   global  markets 

 See next article for the trade plan

LOCAL MARKET

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FKLI    

FKLI pared its early gains to close 6.5-points higher on Tuesday as government's RM 15 billion stimulus package was met with lukewarm response from investors. Market is expected to have a cautious opening today, ahead of BNM's decision on the overnight policy rate due to be announced later in the afternoon.

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Plan A : Attempt short if market stays trading below 1613. Targets are 1605 and 1600.

Plan B : Consider long only if market able to trade firmly above 1600 and rebound. Targets are 1610 and 1618.

FCPO

FCPO plunged to 3160 before the first session close, later recover the losses made, pushing the price back above 3200. Dalian closed -146 at 6528 while soybean oil traded -0.38 at 41.32. Ringgit stays at RM4.04 against the greenback.

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Afternoon Plan 

Plan A : Long if market supported firm above 3231. Targets are 3255 and 3278.

Plan B : Short only if market failed to support above 3231. Targets are 3210 and 3188.

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.