03 May 2021 BMD

                                 LOCAL MARKET

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FKLI

FKLI lost 4-points for April month contract settlement with May month contract lost 10.5-points to close at 1595 on Friday. Market is expected to be in cautious mode as government might impose MCO 3.0 later today.

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Plan A : Remain sell as long as market stays trading below 1601. Targets are 1590 and 1581.5.

Plan B : Consider buy only if market supported firmly above 1590 and rebound. Targets are 1598 and 1601.

FCPO

FCPO had a giant leap today after a mild correction the day before. Market prices climbed back near 4100-mark the second session, breaching the recent high at 4084. Dalian closed till mid of this week while soybean oil traded +2.16 at 64.55. Ringgit stays at RM4.10 against the greenback.      

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Afternoon Plan 

Plan A : Short if market failed to support above 4032. Targets are 4010 and 3985.

Plan B : Long if market retraced but supported firm above 4032. Targets are 4055 and 4078.

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.