Thursday, June 27, 2024

27 June 2024 BMD

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                                           LOCAL MARKET


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FKLI

The FBM KLCI  trades around (+0.35%),The domestic market succumbed to selling pressure in the early session as investors took money off the table ahead of a key US inflation data release tomorrow.

Plan A : Attempt short if the market stays below 1588. Targets are 1582 and 1578.

Plan B : Consider long if the market stays above 1588. Targets are 1596 and 1602.



FCPO
 
FCPO consolidates trying to break the support around 3848. Dalian traded +10 at 7586 while soybean oil traded +0.07 at 43.72 for the day. Ringgit weaken to 4.71 against the greenback.

Plan A : Short if market fail to support above 3888. Targets are 3860 and 3848.

Plan B : Long only if market supported above 3888. Targets are 3910 and 3942.



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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