Wednesday, July 3, 2024

3 July 2024 BMD

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                                          LOCAL MARKET


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FKLI

The FBM KLCI trades around (+1.09%) on Wednesday, Last-minute buying interest pushed the FBM KLCI sharply higher on Tuesday, driven by buying interest in blue-chip stocks.

Plan A : Consider long if the market stays above 1605. Targets are 1612 and 1617.

Plan B : Attempt short if the market stays below 1605. Targets are 1598 and 1588.



FCPO
 
FCPO consolidates trying to break the resistance around 4100. Dalian traded +203 at 8054 while soybean oil traded +0.62 at 46.37 for the day. Ringgit weaken to 4.72 against the greenback.

Plan A : Long only if market supported above 4060. Targets are 4088 and 4120.

Plan B : Short if market fail to support above 4060. Targets are 4038 and 4010.



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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