Monday, June 27, 2011

Fcpo wrap...fresh bears under 3100



Lower on weaker SO and commodity tone amid a stronger US$ especially in the afternoon. CO almost dips under 90 and looks heading for year-low lvl near 84-85.

No panic selling under 3100, just sliding pattern with fresh tech bears. But late selling triggers sellstop under 70 in the closing min. From 3070 to 3038.

Trading range is seen at 3000-3100 in the next 2-3 days. Bearish if under 3100.

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