Wednesday, April 28, 2010

Fcpo wrap....still +ve bias...no effect today


Surprisingly quiet, calm, resilient, probably sitting at sidelines watching the rout in equity or still hangover from yesterday’s roller coaster ride. However –ve tone for commodity mkt on fears that Europe’s mess would put a brake on economic recovery and therefore cut demand for commodity. SO and FCPO shed 1%. CO very sh$$%y

No harm done to fcpo tech outlook today, exactly the same as yesterday. Upward-bias for > SMAs and new fresh buy if above 50. But looks like 30-80 play for the remaining week.



No comments:

Post a Comment