Sunday, June 13, 2021

14 June 2021 BMD

                                 LOCAL MARKET


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FKLI

FKLI lost 7.5-points, settled right above its immediate support level of 1568. With the extension of FMCO, market is expected to remain range bound unless inflow of fresh market catalysts.

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Plan A : Remain short as long as market stays trading below 1583.5. Targets are 1568 and 1560.

Plan B : Consider long only if market trades firmly above 1568 and rebound. Targets are 1575.5 and 1582.5.



FCPO

FCPO slumped this morning following the dive in the soybean oil market. Dalian closed for the Dumpling's Festival today while soybean oil traded -2.32 at 64.66. Ringgit stays at RM4.11 against the greenback.

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Plan A : Short if market failed to support above 3419. Targets are 3392 and 3365.

Plan B : Long if market supported firm above 3419. Targets are 3442 and 3461.




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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