Thursday, January 07, 2010

FCPO : pullback tone..aiming 2600-2650 range ?



-off to a bad start on soyoil sudden -2% drop and got worse in afternoon after Europe opens. Weak equity also affected mkt tone.

-profit take from get-go after 2700 looked so "far away". Steady near 2650++ before kwailow selling after 5pm.
-resistance is lowered to 2650 from 2700. Below 2650, a trading sell mkt as pullback mode could reach 2600 support tomorrow. Immediate strong buy signal is above 2670. Position wise, wait for stregth to enter long again.



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