Mkt losses steam in the afternoon after strong run in the morning session. Instead mkt finds itself near intra-day lows but +ve for the day on morning gap-up.
Fbm finish at intra-day low following a near 4p pullback in the preclosing phase
But still running on a 7-day-17p gain streak.
“Overperformed” condition prompts profit take sell in PM, entice by DJ futs -30 and lower commodity prices. Europe mild gains fail to cheer mkt.
While daily candlestick is less encouraging, above-1300’s momentum could push for further upside, aiming a new trading band in the coming days, 1290-1320 from 1270-1300. Technically, a buy mkt if above 1300 support lvl.
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