Tuesday, July 9, 2024

9 July 2024 BMD

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                                            LOCAL MARKET


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FKLI

The FBM KLCI trades around (-0.35%) on Friday, the domestic market bounced higher on Tuesday following the extended weekend as the market played catch up to global markets that rallied previously on optimism over easing inflation.

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 plummented down after the long weekend, testing the support around 3940. Dalian traded -150 at 7778 while soybean oil traded -0.63 at 47.63 for the day. Ringgit strengthen to 4.70 against the greenback.

Plan A : Short if market fail to support above 3980. Targets are 3958 and 3925.

Plan B : Long only if market supported above 3980. Targets are 4012 and 4040.



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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