Tuesday, July 13, 2010

Fkli wrap...late push on external..short covering..





3-week high. Last 30-mins strength pushed prices to intra-day high and a tech positive closing. Fbm took advantage of DJ futs and Europe gains in late trading after mostly a sluggish and a 30-heavy like scenario. Fbm tight range. Europe +1% Dj futs +40, both at the highs.

Technically, a big improvement from Mon’s neutral stance and fkli looks ready to challenge major resistance zone of 1340-50 if fbm clears 1335. And bullish tone remains if > 1330.

Fkli immediate support is raised to 1333.

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