Tuesday, March 08, 2011

Fcpo wrap...baton to bears.....winning streak ends

-falling CO price ends Fcpo’s 5-day winning streak, cutting its total gains by 50% today in a single day move. With 3700 tested but remains at a resistance, fcpo is trading sell mode hereafter till it regains 3600 lvl gain.

-shifting gear from upward to dwward bias. 3600-3700 neutral.

-dwside risk is seen at 3420-50 this week if fcpo trades below 3600.

No comments:

Post a Comment