5 Sep 2023 BMD

  LOCAL MARKET

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FKLI

FBM KLCI was flat after shedding 0.71 points or 0.05% to 1462.72 points. Following last week’s rebound, the FBM KLCI could take a breather and hover below the resistance of 1465 points which has been capping the index since July.

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Plan A : Consider short if the market stays below 1443. Targets are 1439 and 1436.

Plan B : Attempt long if the market stays below 1443. Targets are 1446 and 1450

FCPO

 

FCPO moved sideway, trying to test the support around 3980. Dalian traded -158 at 7750 while soybean oil traded +0.9 at 63.38 for the day. Ringgit weaken to 4.65 against the greenback.

 

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Plan A : Long only if market supported above 3960. Targets are 3988 and 4020.

Plan B : Short if market fail to support above 3960. Targets are 3921 and 3899.

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