Fcpo wrap...-RM174...the final short term support

This week...daily % change...fkli +ve everyday, fcpo -ve everyday..

Fcpo failed to capitalize on yesterday’s +ve tone as players watched SO prices slump almost -3% overnight. So, trading sell tone set the pace again and finished low for few buyers ahead of the weekend.

After a 5-day losing streak, wiping out RM174, fcpo now at the last short term support lvl of 30SMA. Further weakness would reverse Jul’s uptrend rally, targeting 2300 as a fresh short term trend.