4-day-RM64 losing streak, near year low but survive 2400 acid test thanks to SO bounce in late Asian trades. Technical weakness continues but 2400 good as a support this week on profit take buy. But 2400 seems fragile going forward amid bearish forward mth tone, reflecting industry players’ bearish outlook.
SO/CO recent divergence could give fcpo bulls chance to buy time on potential SO bounce..like in the previous case in early April
Technically, its time to close 2273-2305 Nov09 gap. …highly likely if fcpo finish below 2400.
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