29 November 2024 BMD Local Market

 LOCAL MARKET 

FKLI

FKLI Nov month dropped 7 points or 0.44% to close lower at 1595. The FBM KLCI reversed earlier gains to close the morning session slightly lower on Thursday, as selling activity outpaced buying amid a lack of catalysts, particularly with US markets closed on Thursday for the Thanksgiving holiday.

The US markets were closed for the Thanksgiving holiday on Thursday night and will resume trading today. Asia-Pacific markets were poised to open lower on Friday as investors evaluated November inflation data from Tokyo, Japan, and industrial production figures from South Korea.

The FKLI fail to support above 1604 to 1605 range and remain trading within the downward channel in daily chart, trader may look for sell on rebound, We see the support at 1595 to 1594, if fail to support, the index may fell further. If supported, we might see the buying toward first resistant range at 1601 to 1602. Immediate support and resistance levels are identified at 1595 and 1601, respectively.

Recommend Trading Plan:

Long positions may be opened above 1598 with targets at 1601/1604 and stop-loss at 1593

Short positions may be opened below 1598 with targets at 1595/1591 and stop-loss at 1603

(News Source: The star, CNBC)

FCPO

FCPO Feb month contract rose 87 points or 1.81% to close higher at 4885. Malaysia's crude palm oil futures extended their rally for the fourth consecutive day, closing higher on Thursday due to concerns over the recent flood in the eastern regions. Palm oil traders noted that the flood could affect overall oil palm production in the country.

The CBOT soybean oil market was closed yesterday for the Thanksgiving holiday and will resume trading today. Dalian’s active palm oil contract rose 110 points to close higher at 10002 on previous night session.

Tracking the positive performance in rival oil market, the palm price in daily chart broke up from the resistant line of a downward channel at 4835 to 4849 range, supported for upside. An upward channel spotted in hourly, with the price latest hovering near the resistant of the channel, we reckon buy on retracement plan. Resistant see at 4915 to 4920, breaking above could see further higher toward next resistant. Beware of profit taking activities. The immediate support and resistance levels are pinpointed at 4792 and 4818, respectively.

Recommend Trading Plan:

Long positions may be opened above 4888 with targets 4919/4940 at stop-loss at 4868

Short positions may be opened below 4888 with targets at 4865/4841 stop-loss at 4908

(News Source: Bernama)

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 the investment.

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28 November 2024 Global Market Index

 Crude, Gold, HSI, Dow, S&P 500 and Nasdaq

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E-Mini Dow

 

Stocks fell in light trading on Wednesday as investors took some risk off the table following big November gains.

The Dow Jones Industrial Average slipped 138.25 points, or 0.31%, to finish at 44,722.06, reversing course after trading up more than 140 points at session highs.

Plan A: Long positions may be opened above 44800. Targets at 44852/44901

Plan B: Consider short position may be opened below 44800. Targets at 44720/ 44689

E-Mini S&P 500

The S&P 500 shed 0.38% to 5,998.74, snapping a seven-day winning streak. 

hose moves followed the latest reading of the personal consumption expenditures price index, or PCE, released Wednesday morning. The Federal Reserve-favored inflation gauge rose 0.2% in October and 2.3% on an annualized basis, in line with expectations from economists polled by Dow Jones. Excluding food and energy, the so-called core measure increased 0.3% month over month and 2.8% compared with a year ago, also matching consensus forecasts.

Plan A: Short if market supported firm below 6021. Targets at 6012/5999

Plan B: Long if market break the resistance at 6021. Targets at 6038/6058

E-Mini Nasdaq

Big tech dragged US indices lower ahead of the Thanksgiving holiday on Thursday but that did not change the course of the indices for the month of November as they are set to end with solid gains.

The Nasdaq Composite fell 0.6% as all big tech barring Netflix, ended lower on Wednesday. For the month, the Nasdaq Composite are up over 5%.

US markets will remain shut today and will close early on Friday and as a result, trading volumes have remained thin through the week.

Trade Recommendation :

Plan A : Short if market failed to support above 20772. Targets are 20647 and 20460. Place your stop of your choice but keep your losses at reasonable level.

Plan B : Long if market supported firm above 20772. Targets are 20960 and 21100.

(News Source : CNBC.com)

Hang Seng Index

The Hang Seng finished sharply higher on Wednesday with gains across the board, especially among the technology companies. The index surged 443.93 points or 2.32 percent to finish at 19,603.13 after trading between 19,061.60 and 19,660.99.

Hang Seng index pulled back 0.48%, after logging its largest jump this month in yesterday's performance.

The global forecast for the Asian markets suggests mild consolidation on renewed concerns over the outlook for interest rates. The European markets were mixed and the U.S. bourses were slightly soft and the Asian markets figure to follow the latter lead.

Trade Recommendation :

Plan A : Long if market retraced but supported firm above 19360. Targets are 19471 and  19608. Place your stop of your choice but keep your losses at reasonable level.

Plan B : Short if market rebounded but failed to support above 19460. Targets are 19300 and 19188. Place your stop of your choice but keep your losses at reasonable level.

(News Source : NASDAQ.com)

WTI Crude

Following an unexpected increase in U.S. gasoline stocks, oil prices fell on Thursday as investors turned their attention to this weekend's OPEC+ meeting, which will discuss oil output policies.

Due to the Thanksgiving holiday in the United States beginning on Thursday, trading is anticipated to be minimal.

According to Yeap Jun Rong, a market strategist at IG, oil is probably going to maintain its short-term bearish trend as the worries of a Middle East supply disruption and the higher-than-expected U.S. gasoline stockpiles subside.

The U.S. Energy Information Administration (EIA) said on Wednesday that gasoline stocks in the United States increased by 3.3 million barrels during the week ending November 22, defying forecasts of a slight decline in fuel supplies in anticipation of record holiday travel.

 

Plan A: Remain long as long as oil price stays above 68.76. Targets at 69.33/69.95 and stop loss at 68.42

Plan B: Consider short only if oil price stays below 68.40. Targets at 68.14/67.57 and stop-loss at 69.40

 

Gold

Higher-than-expected real interest rates and a stronger dollar may limit gold's short-term upside, Lombard Odier says in its 2025 outlook report. However, it still sees the precious metal as a valuable asset in 2025. As disinflation and rate cuts continue in major economies, investor demand is expected to pick up, providing support for gold prices, the report notes. Demand from central banks to diversify reserves is also likely to stay strong, Lombard Odier adds. "A dedicated allocation to gold into 2025 therefore plays a useful portfolio diversification role," it says. Spot gold is flat at $2,636.86/oz

Plan A: Remain short as long as gold price stays below 2630. Targets at 2612/2601

Plan B: Attempts long only if gold price stays above 2630. Targets at 2648/4658

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 the investment.

 

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28 November 2024 BMD Local Market

LOCAL MARKET 



FKLI


FKLI Nov month dropped 0.5 or 0.03% to close almost flat at 1602. The FBM KLCI closed marginally higher on Wednesday, with gains in utility stocks helping to counterbalance the selling pressure in the plantation sector.

Overnight Dow Jones dropped 138 points to close lower at 44722. Wall Street's major indexes finished lower on Wednesday, with the Nasdaq leading the declines, as technology stocks fell on Thanksgiving Eve. Concerns about the Federal Reserve's cautious stance on rate cuts, following persistently strong U.S. inflation data, weighed on investor sentiment.

Tracking negative performance in overnight US performance, the FKLI could trade within a range in downside bias. The index remains trading within a downward channel in daily chart, it reached resistant range at 1607 to 1608 range and pull back, forming double top, seems to continue trading within a sideway consolidation in hourly chart, we likely to see selling pressure to coming in, with support see at 1599 to 1601, if supported we may see buy opportunity, if fail to support, will turn to sell. Immediate support and resistance levels are identified at 1599 and 1604, respectively.

Recommend Trading Plan:

Long positions may be opened above 1599 with targets at 1604/1608 and stop-loss at 1594

Short positions may be opened below 1599 with targets at 1597/1593 and stop-loss at 1604

(News Source: The Star; Reuters)

FCPO

FCPO Feb month contract rose 63 points or 1.33% to close higher at 4798. Malaysia's crude palm oil futures closed higher for the third consecutive day on Wednesday. Palm oil traders noted that concerns over the slow pace of production are sustaining positive market sentiment.

Overnight Soybean oil Jan Month dropped 1.79 to close lower at 40.92. Dalian’s active palm oil contract rose 154 points to close higher at 9910 on previous night session.

Tracking the mixed performance in rival oil market, the palm price seems like remain trading within a downward channel. The latest price reached resistant range of the channel at 4840 to 4850 and pull back. We see the support range at 4780 to 4775, if supported above this range could remain buying on retracement plan. The immediate support and resistance levels are pinpointed at 4792 and 4818, respectively.

Recommend Trading Plan:

Long positions may be opened above 4790 with targets 4818/4846 at stop-loss at 4770

Short positions may be opened below 4790 with targets at 4770/4749 stop-loss at 4810

(News Source: Bernama)



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 the investment.

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27 November 2024 BMD

                                                    LOCAL MARKET

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FKLI

Bursa Malaysia edged up at midmorning boosted by YTL Power and YTL Corp stocks’ uptrend.

At 11am, the FTSE Bursa Malaysia KLCI (FBM KLCI) added 3.99 points to 1,607.14 from yesterday’s close of 1,603.15.

Plan A : Attempt short if the market stays below 1607. Targets are 1602 and 1596.

Plan B : Consider long if the market stays above 1607. Targets are 1612 and 1617.

FCPO

 

FCPO consolidates within the range, trying to test the ressitance around 4780. Dalian traded +54 at 9766 while soybean oil traded +0.06 at 42.77 for the day. Ringgit strengthen to 4.44 against the greenback.

Plan A : Long if market supported above 4732. Targets are 4760 and 4789.

Plan B : Short only if market fail to support above 4732. Targets are 4702 and 4688.

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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26 November 2024 BMD

                                                   LOCAL MARKET

Our trade results are posted in our FB page. Click link below to access:-

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If you like what we are doing, kindly like and share our page at FB. Follow us at FB for more updates.

 Click here to contact us : https://goo.gl/B6Dccf 

FKLI

Malaysia's stock benchmark leapt nearly 15 points higher on Monday as investors picked up bank stocks ahead of the release of their corporate results this week.

At 12.3pm, the FBM KLCI was up 14.9 points or nearly 1% to 1,604.68, after trading within a 21-point band in the morning session.

Plan A : Attempt short if the market stays below 1607. Targets are 1602 and 1596.

Plan B : Consider long if the market stays above 1607. Targets are 1612 and 1617.

FCPO

 

FCPO consolidates after plummented down last week, trying to test the support around 4630. Dalian traded +110 at 9710 while soybean oil traded +1.25 at 42.58 for the day. Ringgit strengthen to 4.45 against the greenback.

Plan A : Long if market supported above 4672. Targets are 4699 and 4729.

Plan B : Short only if market fail to support above 4672. Targets are 4652 and 4626.

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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25 November 2024 BMD

                                                    LOCAL MARKET

Our trade results are posted in our FB page. Click link below to access:-

https://www.facebook.com/Futurescoin-1564520737153902/

If you like what we are doing, kindly like and share our page at FB. Follow us at FB for more updates.

 Click here to contact us : https://goo.gl/B6Dccf 

FKLI

The FBM KLCI closed higher on Monday, driven by gains in banking stocks, as corporate earnings take centre stage this week with the results season in its final stretch.

At 5pm, the 30-stock index was up 7.67 points, or 0.48% to 1,597.45. It traded within a range of 20.83 points between an intra-day high of 1,609.29 and a low of 1,588.46.

Plan A : Attempt short if the market stays below 1607. Targets are 1602 and 1596.

Plan B : Consider long if the market stays above 1607. Targets are 1612 and 1617.

FCPO

 

FCPO consolidates after plummented down last week, trying to test the support around 4630. Dalian traded +66 at 9664 while soybean oil traded +0.55 at 42.39 for the day. Ringgit strengthen to 4.45 against the greenback.

Plan A : Long if market supported above 4672. Targets are 4699 and 4729.

Plan B : Short only if market fail to support above 4672. Targets are 4652 and 4626.

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.   

Read More