Thursday, July 11, 2024

11 July 2024 BMD

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                                              LOCAL MARKET


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FKLI

The FBM KLCI trades around (+0.25%) on Wednesday,  The FBM KLCI maintained a slight lead going into the lunch break as investors grew more optimistic over the prospect of rate cuts in the US.

Plan A : Consider long if the market stays above 1608. Targets are 1612 and 1617.

Plan B : Attempt short if the market stays below 1608. Targets are 1598 and 1588.



FCPO
 
FCPO recovered, testing the resistance around 3960. Dalian traded -100 at 7650 while soybean oil traded +0.05 at 46.23 for the day. Ringgit strengthen to 4.70 against the greenback.

Plan A : Long only if market supported above 3920. Targets are 3960 and 3986.

Plan B : Short if market fail to support above 3920. Targets are 3892 and 3872.



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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