Thursday, March 24, 2011

Fcpo wrap....sideways remain despite early scare

-big selloff in AM and big rebound in PM. In hindsight, AM selloff is tech breakdw related and not fundementals.

-Prices finish sharply off lows and avoid a fresh leg dw outlook – but danger looms

-bulls can take consolation that fcpo stays inside its ascending triangle formation .And it does look like a rebound mkt tomorrow, if above 3250, on wkend profit take buy after a 4 day losing streak. More so if > 3300

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