Friday, February 19, 2010

Fcpo wrap...consolidation mode going forward



-fcpo made attempt to the upside in late PM trading after stagnating for a long time that found support at 2580 . May10 revisit 2600 after 5pm probably on intra-day players but gains were shortlived as soyoil maintains -1% losses.

-after 2-day of pullback, the current uptrend momentum came to an end, shifting to pullback mode first before making the next uptrend move again – if can break above
2630. Downward risk is 2500-2550 band the lower band of the expected consolidatidative phase.



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