Wednesday, October 20, 2010

Fcpo wrap...super bull..surprisingly


Slow and softer tone in AM but Fcpo climbs to year-high in PM. SO price reverse early losses, from -1% to flat.. Sentiment, somehow, regains strength after breaking 2930 mark, and all the way towards 3000. A big move today after almost 7-day of range trading.

After today’s breakout, a resumption of recent uptrend is expected but could top near 3000-50 first this week. Support is raised towards 2930-40 range and if these lvl maintains, fcpo is likely to venture into 3000-3200 week ahead.

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