Friday, March 12, 2010

fcpo wrap...off lows but negative territory



Fcpo strong in early and late trading but mostly –ve tone in between. Tight and lower range. Soyoil losses kept the pressure on but somehow the mkt found late strength, from CO +1% ?, and outperformed soyoil.

For the week, -RM21 and toppish at 2700. It looks like a pullback mkt, testing all short term SMAs, unless it can charge back above 2650 or 7SMA.

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