Thursday, June 20, 2024

20 June 2024 BMD

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                                             LOCAL MARKET


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FKLI

The FBM KLCI  trades around (-0.39%), the FBM KLCI descended into negative territory as the domestic market continued to consolidate amid an absence of fresh leads.

Plan A : Attempt short if the market stays below 1608. Targets are 1600 and 1595.

Plan B : Consider long if the market stays above 1608. Targets are 1609 and 1616.



FCPO
 
FCPO consolidates trying to break the resistance around 3940. Dalian traded +32 at 7700 while soybean oil traded +0.15 at 44.59 for the day. Ringgit strengthen to 4.70 against the greenback.

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

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



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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