Sunday, June 11, 2023

12 Jun 2023 BMD


 LOCAL MARKET


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FKLI

FBM KLCI added 1.44 points or 0.1% to 1377.08 point to bounce off its lowest level since October 2022. Following the recent lacklustre performance, the FBM KLCI could retest its critical support of 1372 points with the next support at 1356 points.

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Plan A : Consider long if the market stays above 1374. Targets are 1380 and 1383.

Plan B : Attempt short if the market stays below 1374. Targets are 1371 and 1368



FCPO
 
FCPO still consolidates at the region, trying to break the support around 3320. Dalian trade +6 at 6566 while soybean oil traded -0.6 at 53.99. Ringgit weaken to 4.61 against the greenback.
 

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Plan A : Long only if market supported above 3340. Targets are 3382 and 3420.

Plan B : Short if market fail to support above 3340. Targets are 3320  and 3299.




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
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