Commodity mostly quiet today but fcpo took equity bullish tone. Sentiment improved after early attempt to break support lvl failed, snapping a 5-day losing streak.Fcpo resilient at 2530 support, looking for a rebound after last week’s steep losses. SO mostly near flat line, not much encouragement, therefore capping any significant gains that would change the chart bearish outlook, like beyond 2570.
Technically, fcpo regains back above the 30SMA support line but not under bulls grip yet till we see 2600. Long for rebound if above 2530.
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