Wednesday, March 31, 2021

01 April 2021 BMD

                                 LOCAL MARKET


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FKLI

FKLI March contract settled right at daily MA200 level in a day we saw almost 3% down. Market is at the verge of breaking down if it fails to rebound today. Would be important to see market holding above 1570-level at least. Otherwise, more panic selling can be expected.

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Plan A : Attempt short if market rebounds but fails to breach above 1583.5 . Targets are 1573.5 and 1567.5.

Plan B : Consider long only if market holds firm above 1570 and rebound. Targets are 1583.5 and 1593.5.


FCPO

FCPO spiked bringing the price back up to 3756 the second session. Dalian closed +262 at 7558 while soybean oil -0.18 at 52.74. Ringgit stays at RM4.14 against the greenback.

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Plan A : Short if market failed to support above 3708. Targets are 3685 and 3662.

Plan B : Long if market retraced but supported firm above 3708. Targets are 3729 and 3751.



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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