Sunday, August 20, 2023

21 Aug 2023 BMD


 LOCAL MARKET


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FKLI

FBM KLCI shed 1.89 points or 0.13% to 1446.09 points. Following last week’s decline, the FBM KLCI could trend lower towards its support of 1437 points.

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Plan A : Consider long if the market stays above 1445. Targets are 1452 and 1460.

Plan B : Attempt short if the market stays above 1445. Targets are 1441 and 1437




FCPO
 
FCPO surged back up after supported above 3860, challenging the previous high around 3952. Dalian traded +40 at 7670 while soybean oil traded +0.78 at 64.87 for the day. Ringgit weaken to 4.65 against the greenback.
 

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Plan A : Long only if market supported above 3888. Targets are 3920 and 3960.

Plan B : Short if market fail to support above 3880. Targets are 3841 and 3821.

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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