Wow…very tight range today. Strong commodity prices helped fcpo to bounce after a 4 day–RM120 losing streak However, not enough momentum to push it back above 2600 or maybe strong ringgit capping the upside. The mkt just stuck within 1% gains in RM term, matching soyoil gains in US$ term.
Technically, 2550-2600 range is still in play but upward-bias if > 2670. The mkr is likelt to face selling pressure once it moves into short term SMAs. However, strong sell signal at mom is a breakdown below 2650.
Technically, 2550-2600 range is still in play but upward-bias if > 2670. The mkr is likelt to face selling pressure once it moves into short term SMAs. However, strong sell signal at mom is a breakdown below 2650.
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