Wednesday, November 03, 2010

Fkli wrap...toppish and quiet..mostly 10-15


The chart says it all. All too familiar ranges again. Quiet, ranging, struggle for direction, waiting for the big one tonight – Fed’s “how much”. And judging from today’s bourses action, the bet is +ve-bias reaction to Fed’s event tonight

Fbm top at 1510 again, causing fkli a pullback from 15 to 10 lvl. Technically, remains +ve, above 7SMA, but downward-bias and must cross above 15 to revive its uptrend momentum. Immedaite suport is raised ffrom 00 to 0.5.

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