Thursday, December 23, 2010

Morning start...fki firm 1515-18 fcpo firm 3620-40

All small moves again. DJ +20 at 2-year high, europe mixed, flat. Focus on commodity as CO settles above US$90 for the first time since Oct 2008 on lower stockpiles.

8.25 : DJ futs +1. Regional flat. Kos flat. NK holiday. Commodity +0.5%. Weak US$ to Asian fx.

fkli : strong probability to test 20s. Uptrend tone if > 1514, targeting 22.5. Fbm bullish if > 15 but seen at 10-20 range today.

fcpo : SO +0.5%, enough to push fcpo near 3650 to trigger a technical breakout above 50 ? maybe in 2nd attempt after some tug of war in early trades and if 20 supports holds. Otherwise, stuck in +ve range of 3600-50

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