Wednesday, July 27, 2011

Fcpo wrap...sideways again but +ve bias now, slightly


Super tight range, directionless mkt. Positive stance as commodity stays firm on weaker US$.

Fcpo stuck at recent upper range but lack a breakout higher for 3150-3200 play. But as least it has return to +ve zone, albeit not far from the crossing line of 7SMA. Keeping fingers cross for a strong SO tonight.

A breach of 3140 tomorrow could see a dash towards 3200, aiming for weekly closing within 3160-80 range. Major sell signal seen under 3080

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