Friday, June 05, 2009

MarketWrap : year high and bullish closing...



Despite initial cautious tone, klci managed to crawl above 1070 in the last 15 mins. Klci fnished at a new year high, +3% this week. Fkli, which anticipated the cash mkt last mins push, was mostly traded around 1075.
Sentiment was boosted by European strength for two days in a row, taking over the driver seat from a higher-but-seesawed HS index. This week, strong energy or commodities price buoyed global mkt sentiment.
FKLI technically, a bullish breakout above 1070, targeting 1100 next week. Uptrend mkt is expected unless major support lvl, like the uptrend line or SMA, is breached.

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