Thursday, May 13, 2010

Fcpo wrap...2500 gave way..2400 next?


Weaker commodity tone today, fcpo saw more dwside on tech selling under 2500. Selling increased in PM after 2nd attempt to break above 2500 failed.

While yet to call a bearish mkt, the risk of becoming one is huge as the mkt looks for support at the recent lower range of 2450-2500 now. If breaks, 2400 target. Below 2500 is sell mkt.


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