Friday, April 29, 2011

Morning start...fkli firm 1533-35 fcpo bearish 3210-20

DJ +70, continuation of strong DJ, GOLD, weak US$ trend. Europe positive tone near +1%. Regional mostly flat at mom. NK holiday. GOLD continues to create fresh record highs after crossing 1500 mark. CO flat. FKLI, enough to sustain above 30 but making attempt at 40 ? Bullish tone if aobve 35. FCPO SO -3%, as U.S. grain futures sank Thursday as improving global
weather forecasts raised hopes for larger harvests. Maybe kneejerk under 3200 in opening trades but 3200-3250 trading range. Late selling expected if mkt stays under 3280. Bearish week ahead likely.

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