Monday, May 16, 2011

Morning start...fkli soft 1538-40 fcpo soft 3260-70

Despite a strong perfomance in early hours, DJ -100, Europe -1% Fri, as fear of Greece debt resurface after European countries fail to agree on a common plan. Regional -0.5%. Commodity near -1%.

Fkli seen steady first, near 40, and remains upward bias till 1538 support is breached for 30-40.

FCPO SO -0.6%, seen opening softer in neutral range 3250-3280. If 3250 can hold, fcpo remains upward bias and 3300 target stays intact.

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