Wednesday, January 26, 2011

Fcpo wrap....bulls survive scare but defensive

- Selloff in grains product today. Fcpo opens RM70-gap dw but immediately stage a rebound, with one attempt at 3700 in early PM session but tough luck. Just gap closing and bears resume their selling.

- Still a good day for bulls as fcpo bounces high above 3620 critical support lvl

- Danger of a breaddw under 3600. if fcpo stays below 3700. or below SMAs , risking towards 3450.

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