Wednesday, May 31, 2023

1 Jun 2023 BMD

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  LOCAL MARKET


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FKLI

FBM KLCI dropped 9.79 points or 0.7% to 1387.12 points on the last day of MSCI rebalancing. Following the recent bearish performance, the FBM KLCI could retest its support of 1372 points.

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Plan A : Consider short if the market stays below 1393. Targets are 1381 and 1371.

Plan B : Attempt long if the market stays above 1393. Targets are 1399 and 1410




FCPO
 
FCPO comes back up after breaking previous low at 3220' hitting new low 3194'. Dalian trade -14 at 6404 while soybean oil traded +0.4 at 46.60. Ringgit maintained at 4.61 against the greenback.
 

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Plan A : Short if market fail to support above 3270. Targets are 3248  and 3210.

Plan B : Long only if market supported above 3270. Targets are 3299 and 3321.



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