Thursday, December 30, 2010

Fcpo wrap...this week +123...aiming to break 3800



Weak in AM on SO losses but fcpo bulls all fire up in PM after SO reverses early losses. With the underlying bullish tone remains intact, gains prompt more buying especially in the last 15 mins.

A breakout above 3792-3800 is fresh bullish momentum. Technically bullish but expensive if SO does not catch up soon, unless CO > $100. Immediate support is raised to 3750 from 3700.. A breakdown below 3650 next week would void the bullish pattern.

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