Friday, December 17, 2021

20 December 2021 BMD

                                   LOCAL MARKET


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FKLI 

Bucking the regional benchmark following the selloff on Wall Street, Malaysian markets extended its gain for the third straight session on Friday. Market however, might turn cautious today with the threat of rising cases of Omicron.

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Plan A: Attempt short if market fails to hold above 1488. Targets are 1481 and 1476.

Plan B : Consider long if market trades firmly above 1479. Targets are 1484 and 1488.



FCPO

FCPO plummeted the first and second session, bringing the price down to 4311. Dalian closed -236 at 7708 while soybean oil traded -0.87 at 53.01. Ringgit weakened to 4.22 against the greenback.

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Plan A: Long only if the market rebounded and supported firmly above 4360. Targets are 4386 and 4412.

Plan B: Short only if the market failed to support above 4360. Targets are 4337 and 4312.



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, mining.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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