Friday, May 07, 2010

Fcpo wrap...still resilient at 2500..



FCPO outperformed soyoil again on persistent buying below 2500 after recent newspaper mentioned that cpo prices will maintain above 2500 on slower output. SO almost -2%.

With mkt still above 2500, therefore extending it consolidation tone without a clear direction yet but –ve bias as below short term SMAs, just missing a short term dw trend yet.

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