Major reversal in PM…again no thanks to Korea conflict fresh fire news. Already a weak sentiment after failing to clear or sustain above 1500 and a so-so PChem (5.71/5.72/5.30/5.31/+2%) outing, selling piles up in PM. Regional dips into -1% after a quiet AM session. Europe -1% Dj futs -50.Fkli see kneejerk selling under 90 and late selling too amid poor chart outlook despite almost 10p discount to fbm.
Technically, fbm.fkli fail to extend a 2-day strong momentum that could have reversed the recent dwtrend outlook but instead reinforcing this week short term dwtrend tone amid a failure to clear resistance. 1480 remains a critical support. Otherwise, 40-80 range play.
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