Tech pressure and concerns over weaker demand in the 2H10 continued as a major theme. 9-mth lows after a 3-day losing streak, erasing RM80.
Catching up with SO losses…?.. after stagnating for the past 2-week while the rest of commodity hitting low (except GOLD) After today's move, Fcpo discount at $82/T, still above the $91/T avg in the 1H2010.
The mkt could reach 2250-70 lvl before some correction. Sweet if can go to 2200 but seems overdone if without a correction first. With 2300 support tested today, a bounce is in the card if mkt > 2300. But trading range is lowered to 2300-2350 from 2350-2400.
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