FKLI will likely point to a lower opening as Dow Jones closed in the red last night following negative sentiments that is creeping into the markets of late. Bank Negara also changed it's borrowing rate by pushing it up 25 basis point, so that may have a negative effect on some speculative stocks today. For the first trade, one can attempt to Short 1-3 points above the opening price. Try get 5-7 points profit and put a stop 5 points away from the entry point. Close your position by the end of the day.
At the FCPO front, the markets recovered in yesterday's afternoon trading after the release of the MPOB June data. With the Ramadhan holidays coming, production is expected to be lower and that will push price further up in the coming days if the export pace is maintained. Today's support 2350 / 2300 / 2265 and resistance 2400 / 2435 / 2510 / 2550.
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