At lost for words looking at the selling in fbm all day long, despite such strong external factors. Against the rest of the mkts, Fbm continued to suffer profit taking at 70s – 2 days in a row. Fbm clsd at 72 due to 4p-push in the preclosing stage - mostly below 70 the day- but fkli bulls already injured by then.
Conflicting signals made fkli stuck in a tight range but ended at lower end on technical selling. No danger of a breakdown yet but could have been better for bulls, near 80. Looking at the chart, its look like the tug-of war will continue for days – SMAs all flat, meaning no direction.
Tomorrow 65-70 or 70-75 ? Surprise me with a big move.
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