17 June 2021 BMD

                                     LOCAL MARKET

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FKLI

FKLI showed another lackluster performance yesterday with market closing at day's low level of 1573.5. Market is expected to dive lower today after U.S. Federal Reserve brought forward the time frame on interest rate hike to year 2023, causing the overnight Dow to loss of 265-points yesterday.

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Plan A : Remain short as long as market stays below 1580. Targets are 1568.5 and 1560.

Plan B : Consider long only if market trades firmly above 1560 and rebound. Targets are 1568 and 1573.5.

FCPO

FCPO struggled to stay above 3400 the second session and continue to dive, revisiting the morning low. Dalian closed -96 at 6918 while soybean oil -0.81 at 61.26. Ringgit stays at RM4.13 against the greenback.  

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Afternoon Plan 

Plan A : Long if market supported firm above 3415. Targets are 3438 and 3461.

Plan B : Short if market failed to support above 3415. Targets are 3392 and 3371.

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.