14 Aug 2023 BMD

   LOCAL MARKET

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FKLI

FBM KLCI lost 1.77 points or 0.12% to 1457.16 points. Following the state elections which saw status quo, the FBM KLCI could climb and retest the resistance of 1465 points after the removal of political uncertainties as the opposition failed to mount a challenge on the federal government.

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Plan A : Consider long if the market stays above 1457. Targets are 1465 and 1472.

Plan B : Attempt short if the market stays below 1457. Targets are 1450 and 1443

FCPO

 

FCPO moved sideway for the past trading days, testing the support around 3680. Dalian traded -72 at 7388 while soybean oil traded +0.77 at 60.99 for the day. Ringgit weaken to 4.61 against the greenback.

 

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Plan A : Short if market fail to support above 3720. Targets are 3699  and 3660.

Plan B : Long only if market supported above 3720. Targets are 3749 and 3779.

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that investment.