Tuesday, August 10, 2010

Fkli wrap...China drag.....trading sell




More dwside than expected. Fkli back to discount on “China-factor. China lost 3% after record trade surplus in July –meaning more fear of policy tightening? Fbm comfort above 1360 came to an end in PM session but considered strong amongst its peers.

Technically, in favor of short term bears, targeting the ascending triangle area following a breach of the top red line support. As a consolation for bulls, fbm is still holding at the upper band range.
Below 1360 is trading sell.


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