6 January 2021 BMD

                         We are expanding to                    global  markets 

 See next article for the trade plan

LOCAL MARKET

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FKLI    

FKLI recovered from a low of 1587 before settling at 1610.5 as increase in COVID-19 cases dampening market sentiment further on top of the political uncertainties in Malaysia. Market might open higher today after overnight Dow gained 167-points but sustainability of it would be in question as selling pressure still remain persistent.

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Plan A : Short if market recovers but fails to breach above 1619.5. Targets are 1595.5 and 1580.5. 

Plan B : Consider buy only if market test and rebound from 1580.5. Targets are 1593 and 1600.

FCPO

FCPO continue to surge higher, recorded a new recent high at 3840 together with the strong soybean oil and Dalian market. Dalian closed +220 at 7238 while soybean oil +0.74 at 44.34. Ringgit stays at RM4.00 against the greenback.

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Afternoon Plan

Plan A : Short if market failed to support above 3783. Targets are 3760, 3735 and 3709.

Plan B : Long only if market doesn't retrace much and supported firm above 3783. Targets are 3803, 3830 and 3854.

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.