Wednesday, March 02, 2011

Fcpo wrap... above 7SMA...first since 3900 breakdw

-out of bears territory thanks to strong commodity tone today following CO surge above $.100.

-late selling activities pull fcpo back under 3600 but bulls can cheer as mkt is back above 7SMA, meaning a breakdw scenario under 3400 will take a back set first. Mkt seen venturing into sideways with resistance testing scenario. 3500-3700 seen this week. A reversal of Feb11 dwtrend seen if > 3700.

-bullish if above 3500

No comments:

Post a Comment