Tuesday, May 24, 2011

Morning start...fkli firm 1518-20 fcpo firm 3360-70

DJ -100, Europe -2% but all almost priced-in in late Asian hours yesterday.

8.30 : Regional flat to softer tone, DJ futs -5. Commodity flat.

Fkli seen steady amid wide discount alteady, near 20+ first. Both fbm.fkli are however, unlikely to reverse yesterday -ve tone without a +ve external. Fresh major -ves if fbm <25. till then fkli is seen seesaw within 18-26

FCPO SO +0.1% senn steayd but limited upside, 3390-3400, and dwward risk towards 7SMA or near 3330 remains

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