Bears went into hiding again. Bulls stampede its way to the “top” of 1060. Credit to FBM for taking it own pace while regional play catching up. Rather unfamiliar pattern.Already in the morning the mkt performed better than expected, it went another mile in the PM before profit take at 1160, chase by players afraid of "risk of not in the mkt".
While bullish tone, profit-take noted at higher end for the past two days. But sentiment was not affected yet. External factors provide support and as incentives recently for bulls to push price higher and higher, taking advantage of the rally mode.
The 1060-1065 band is the major top hit in late July2008. If there is such thing as strong resistance, this is it. Just in case: A clear breach could send mkt towards 1200 but this week ?
No comments:
Post a Comment