7 Aug 2023 BMD

  LOCAL MARKET

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FKLI

FBM KLCI added 3.36 points or 0.23% to 1445.21 points. Following the recent pullback, the FBM KLCI could take a breather and consolidate between the support of 1410 points and the resistance of 1460 points.

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Plan A : Consider long if the market stays above 1444. Targets are 1448 and 1453.

Plan B : Attempt short if the market stays above 1444. Targets are 1439 and 1434

FCPO

 

FCPO plummeted down, breaking the previous low around 3811. Dalian traded -162 at 7442 while soybean oil traded -0.56 at 60.14 for the day. Ringgit weaken to 4.55 against the greenback.

 

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Plan A : Short if market fail to support above 3820. Targets are 3800  and 3760.

Plan B : Long only if market supported above 3820. Targets are 3842 and 3869.

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that investment.