Asian selloff as DJ overnight slump reinforces recent concerns and toppishness that recent gains were “ too much” amid still-weak US employment data and consumer confidence. Selling is still seen as profit take, with no change of the underlying sentiment
Fbm.fkli looks like a pullback mkt - the bulls may no be so lucky this time around compared with last week Wed’s scare due to the big price gap with 7SMA that would make a reversal even tougher.
In a pullback from recent 125-gains, 1060-1185, min adjustment is seen at 1140++.Bargain should at least wait here, no hurry OR if the mkt regains “green zone”. The “red zone” represents immediate downside risk
No comments:
Post a Comment