2 Aug 2023 BMD

 LOCAL MARKET

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FKLI

FBM KLCI dropped 8.19 points or 0.56% to 1451.24 points. Following the recent bullish momentum, the FBM KLCI could take a breather and consolidate below the resistance of 1460 points.

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Plan A : Consider short if the market stays below 1457. Targets are 1445 and 1439.

Plan B : Attempt long if the market stays above 1457. Targets are 1463 and 1473

FCPO

 

FCPO surge up, testing the resistance at 3945. Dalian traded +176 at 7664 while soybean oil traded +0.33 at 61.16 for the day. Ringgit weaken to 4.53 against the greenback.

 

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Plan A : Long only if market supported above 3920. Targets are 3954 and 3988.

Plan B : Short if market fail to support above 3920. Targets are 3988  and 3964.

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