MarketWrap : the start of year-end rally ? ahlong again..

WOW! A significant move > reversing 2-week of negative trend, and all the way to 60 almost 30p higher than yesterday’s low – in a single day. Renewed technical buying and retail cut loss buying. Overall, it seemed like a day where global funds are accumulating across the board –commodity and equity.

Fkli opened stronger than expected, at the top end of 40-45 band and did not look back since! Fbm clsed at high after a 3point push at pre closing phase.


Bullish daily candle but short of a bullish trend yet, band 30-70. A breakdown scenario is history…fingers cross. Strong potential to park near 70++ in coming days in preparations for a bullish breakout scenario once 7SMA/pink crosses up 14SMA/yellow.

Downward risk is likely to be limited a the newly drawn short term uptrend line. Above 56.5 is a buy mkt.