FKLI

FKLI gradually recovered as the panic selling led by the fear of the virus outbreak has becoming stable despite the death tolls and the confirmed cases still rising. 

The buying pressure is now boosting the market to go higher as the immediate resistance for KLCI at 1550 had already breached yesterday. The buying signal would be greater if FKLI today can sustain above 1564.

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Plan A : Attempt to short if market does not breach above 1564. Cut above 1568.

Plan B : Targets are 1560.5, 1557 and 1554.

Plan C : Continue to long as long as market stays above 1547.5. Cut below 1544.

Plan D :Targets are 1551, 1554 and 1557.5.

FCPO

FCPO erased the losses made in the morning, pushing the prices back to 2880 early afternoon session. Dalian turnaround the second session, up 0.85% while soybean oil stays at positive net change. Ringgit weakened against the greenback at RM4.13.  

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Afternoon Plan

Plan A : Long if market supported firm above 2857. Targets are 2872 and 2898.

Plan B : Short if market failed to support above 2857. Targets are 2839 and 2821. 

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 and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correctaysion, 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.