Thursday, May 20, 2010

Fcpo wrap..strong bounce,back to range play ? 2400-2500



Fcpo revert back up to previous trading lvl, thanks to a weaker ringgit tone. Fcpo did start strong on SO +1% gains with some tug-of war around 50 before extending gains in PM. despite single digit growth exports estimates for 1-25th period, released by ITS/SGS.

With 2400 steady for the past 3 days, profit buying pushed mkt higher, putting a halt to recent dw trend tone. Mkt is seen range play within 2400-2500 band in the coming days.


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