Wednesday, May 26, 2010

Fcpo wrap...late selling again...


Like Tue, late seling caused a big pullback but prices remains +ve on SO +0.5%. Generally a quiet with roll taking centre stage. Mkt firmer tone in early session was probably helped by short-roll activity. Crazy spread like nearby +90 point. Forward mth is very bearish.. Physical mkt not looking rosy ??

Considered a range bound mkt today. But could see more selling if opens lower tomorrow and if 36 breaks amid recent top heavy scenario.



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