Wednesday, February 10, 2010

Fcpo wrap...another meaningless day...



-fcpo like Mon and Tues, very tight range, looks toppish at 2570 but yet not much downside, support at 2450. Almost like no trading so far this week.

-today, positive MPOB data offset soyoil weaker tone in the afternoon…both almost flat from the previous day. FCPO manage to keep it at the top end today on late buying activities, believed short covering and not mkt moving news

-engage breakout strategy , 2550-2570. Likely to be 2570 breakout.

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