Tuesday, February 08, 2011

Fcpo wrap....late bounce scare for bears...

-mostly –ve before late surge, almost RM50 in the last 10 mins on short covering especially after it turns back to +ve territory.

-good sign for bulls but maybe another day of tug-of-war at the higher end before convincingly sustain above 3900. Immediate support is raised to 3850 from 3800, targeting 3850-4000 range

-new major bullish breakout point is above 3915

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