Wednesday, December 02, 2009

MarketWrap : ahlong again....1300 coming!


Testing 70 water. Daily candlestick does not look good but the fact is, price is above 7SMA, green area=positive tone. Fbm surprised with a 7p gap-up that led to pullback thereafter causing jitters in fkli. Slow day, feel good factor on commodities related stock but not so much aggressive buying yet. Maybe, taking one step at a time.

Near term support is raised from 30 to 50 while upside potential increases but still within the horizontal line ranges. Generally, above 70 is a buy market.

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