LOCAL MARKET
Click here to contact us: https://goo.gl/B6Dccf
FKLI Dec month dropped 3.0 points or 0.19% to closed lower at 1611. The FBM KLCI edged lower on Monday, mirroring regional market declines as South Korea's financial markets remained volatile due to a political crisis, while investor sentiment turned cautious ahead of global central bank meetings later this week.
Overnight Dow Jones dropped 240 points to closed lower at 44401. Wall Street's main indexes ended lower on Monday, pressured by a decline in AI leader Nvidia, which dragged down tech stocks, as investors awaited a key inflation report due later this week.
The FKLI remain trading below the resistant line of downward channel in daily chart. The index potentially trading higher if breaking the resistant range at 1614 to 1616. Otherwise, the index may face selling pressure. Immediate support and resistance levels are identified at 1612 and 1616, respectively.
(News Source: The Star; Reuters)
Recommend Trading Plan:
Long positions may be opened above 1612 with targets at 1616/1620 and stop-loss at 1607
Short positions may be opened below 1612 with targets at 1608/1605 and stop-loss at 1617
FCPO
FCPO Feb month contract dropped 8 points or 0.16% to close slightly lower at 5111. Malaysian palm oil futures ended lower on Monday, following a drop in rival vegetable oils on the Dalian and Chicago exchanges, as traders awaited guidance from the upcoming Malaysian Palm Oil Board (MPOB) data.
Overnight Soybean oil Jan Month dropped 0.17 to close lower at 42.80. Dalian’s active palm oil contract dropped 28 points to close lower at 9570 on previous night session.
Tracking the negative performance in rival oil market, the palm price likely to trade lower. The price remains hovering within a sideway consolidation, trading above the middle of the range also the support area at 5095 to 5090. We might see some selling activities to coming in, if breaking below the support range, the price could trade further lower, if supported we might see buying opportunity. The immediate support and resistance levels are pinpointed at 5095 and 5151, respectively.
(News Source: Reuters)
Recommend Trading Plan:
Long positions may be opened above 5126 with targets 5151/5173 at stop-loss at 5106
Short positions may be opened below 5126 with targets at 5095/5072 stop-loss at 5146
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.
0 comments:
Post a Comment