04 August 2021 BMD

                                      LOCAL MARKET

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FKLI

FKLI rebounded on Tuesday, tracking gains in regional markets. However, the shocking news of UMNO pulling out their support for existing government is going to haunt the market today. Do expect selling pressure with investors turning cautious with political uncertainties developing in our country.

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Plan A : Remain sell as long as market stays below 1496. Targets are 1479 and 1471.

Plan B : Consider long if market supports above 1479 and rebound. Targets are 1486 and 1492.

FCPO

FCPO opened higher this morning following the rebound from the regional markets. Dalian traded +152 at 8278 while soybean oil traded +0.24 at 62.04. Ringgit stays at RM4.22 against the greenback.

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Plan A : Long if market supported firm above 4174. Targets are 4196 and 4220.

Plan B : Short if market failed to support above 4174. Targets are 4151 and 4132.

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.