Wednesday, January 05, 2011

Fcpo wrap...uptrend pattern in danger....


-Crude oil spoils fcpo’s bulls party….

-3-day gains of RM155 comes to an end today, as players take weak commodity tone to lock in profits . Fcpo very expensive relatively to SO, only US$3 discount at its height. Last US$9

-still hopefull as no tech breakdw..yet as fcpo manages to find support at 7SMA and above psychological lvl of 3800. But dwward bias if below 3820 for more correction, targeting 3700 if 3800 breaks. Bulls can cheer if mkt regains 3860.

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