Wednesday, January 20, 2021

21 January 2021 BMD

                         We are expanding to                   global  markets 

 See next article for the trade plan

LOCAL MARKET

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FKLI    

FKLI lost 6-points on Wednesday as investors took profits after Bank Negara Malaysia maintained its overnight policy rate at 1.75%. Market is expected to open firmer today after overnight Dow gained 257-points.

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Plan A : Attempt short if market stays trading below 1613. Targets are 1606 and 1601.

Plan B : Consider long only if market able to trade firmly above 1601 and rebound. Targets are 1610 and 1618.


FCPO

FCPO surged to the high of  3303, regaining the losses made yesterday. Dalian closed +6 at 6584 while soybean oil traded -0.1 at 42.44. Ringgit stays at RM4.03 against the greenback. 

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Afternoon Plan
Plan A : Long only if market supported firm above 3292. Targets are 3319 and 3345.

Plan B  : Short if market rebounded but failed to support above 3292. Targets are 3270 and 3247.




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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