Friday, February 12, 2010

Fcpo wrap...strong late bounce..keeping +ve tone


-strong recovery after a poor start on weaker soyoil. Price mostly stready near 2560++ before a surge of buying interest appear in the last 5 mins of trading phase.
-this week, +RM60 stuck within 2550-2600 after a gap up (2523-2542) on Mon. Awaits the next direction.
-technically, +ve , as manage to secure above the uptrend support line but it requires immediate follow through to re-start the current uptrend move. Otherwise the mkt will shift into a consolidation phase of 2500-2600. .Immediate support remains at 2550.




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