Daily Market Report ( 26 November 2021)

  • Wall Street was closed for Thanksgiving yesterday.
  • Taking a look at its futures, both the DJI Average and S&P 500 were flat with the Nasdaq trading around 38 points higher.
  • Back home, the FBMKLCI was under some selling pressure as the index closed below its 1,520 support level. With the next support at 1,500, we reckon bargain hunting may emerge if the index dips further to around the 1,510 mark.
  • For today, we expect the index to trend within the 1,515-1,525 range.
  • Meanwhile, the crude palm oil (CPO) is looking to end November on another record high currently averaging RM5,341/tonne from RM5,051/tonne last month.