M+ Online Morning Market Buzz - 30 Nov 22 
 
Dow Jones: 33,852.53 pts (+3.07pts, +0.01%) 
⬆️ Resistance:  35100 
⬇️ Support:  33000 
 
FBM KLCI: 1,476.96 pts (-9.58pts, -0.64%) 
⬆️ Resistance:  1540 
⬇️ Support:  1410 
 
HSI Index: 18,204.68 pts (+906.74pts, +5.24%) 
⬆️ Resistance:  18600 
⬇️ Support:  16500 
 
Crude Palm Oil: RM4,260 (+RM41, +0.97%) 
⬆️ Resistance:  4380 
⬇️ Support:  3910 
 
Brent Oil: $83.03 (-$0.16, -0.19%) 
⬆️ Resistance:  91.40 
⬇️ Support:  79.00 
 
Gold: $1,749.85 (+$8.49, +0.49%) 
⬆️ Resistance:  1800 
⬇️ Support:  1700 
 

M+ Online Technical Focus - 30 Nov 22
Hibiscus Petroleum Bhd: Riding onto elevated crude oil prices

Trading Catalyst
• Malaysia’s first public listed independent oil and gas exploration and production firm, focusing on the development and production of oilfield assets in United Kingdom, Malaysia and Australia.
• Project to replace the failed riser at the Anasuria Cluster was completed in September 2022 and that may improve overall production efficiency.
• Organization of Petroleum Exporting Countries (OPEC) and its allies may step up their efforts to cut production in bid to support prices.
• Technically, traders may anticipate for a potential breakout above RM1.07 to target the next resistances at RM1.16-1.24 with long term target set at RM1.38.
Technical View

(i) HIBISCS (S: RM0.99, R: RM1.16-1.24, LT TP: RM1.38, CL: RM0.985)

S: Support, R: Resistance, LT TP: Long term target price, CL: Cut loss

Source: Bloomberg, M+ Online

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