18 June 2024 BMD

                                             LOCAL MARKET

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FKLI

The FBM KLCI  trades around (+0.26%)  While the FBM KLCI started Tuesday on a positive performance following Wall Street overnight rally, analysts are offering contrasting opinions over how the domestic market will perform moving forward.

Plan A : Attempt short if the market stays below 1616. Targets are 1611 and 1607.

Plan B : Consider long if the market stays above 1616. Targets are 1618 and 1624.

FCPO

 

FCPO retraced, testing the support around 3892. Dalian traded +30 at 7610 while soybean oil traded -0.09 at 43.80 for the day. Ringgit strengthen to 4.71 against the greenback.

Plan A : Short if market fail to support above 3928. Targets are 3900 and 3880.

Plan B : Long only if market supported above 3928. Targets are 3940 and 3962.

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.