Thursday, May 05, 2011

Fkli wrap.....critical support...danger of fresh leg down














With no +ve cue and weaker RM, bears technie continue to dominate. But within Wed’s lower ranges and no fresh sell signal today. Danger of a breakdw increases technically. External mostly lower on weaker commodity price again. Europe/dj futs flattish.




Fkli is bearish if under 16. Kneejerk sell under 1510 towards 1500 but likely to close off lows tomorrow if wide discount persists on wkend profit take buy. New fresh lower range next week ?

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