Thursday, May 25, 2023

26 May 2023 BMD



   LOCAL MARKET


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FKLI

FBM KLCI plunged 7.14 points or 0.51% to 1402.48 points. Following the recent bearish momentum, the FBM KLCI test its support of 1393 points.

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Plan A : Consider short if the market stays below 1406. Targets are 1408 and 1412.

Plan B : Attempt long if the market stays above 1406. Targets are 1397 and 1394



FCPO
 
FCPO market surge up following Dalian's recovering trying to break the resistance around 3570. Dalian trade +26 at 6702 while soybean oil traded +0.02 at 48.02. Ringgit weakened to 4.61 against the greenback.
 

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Plan A : Long only if market supported above 3440. Targets are 3470 and 3507.

Plan B : Short if market fail to support above 3440. Targets are 3420  and 3385.






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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