Wednesday, May 12, 2010

Fcpo wrap...all quiet..2500 holds...












Tight range trading continues, no fresh move, defensive play but 2500 remains holding, save by firmer SO tone. SO lacks direction after recent big fall, tracking CO even though short term trend is negative.

Fcpo is dw-ward –bias too but within a familiar range of 2500-2520. Risk of breakdown is higher, for 2450-2500 its 3-week low lvls.



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