Wednesday, July 27, 2011

Fkli wrap....breakdw on sellstop under 53....




Fkli fails to regain 1560 following late selling in fbm on PCHEM leads. Like regional all mixed, near flat but fbm faces strong pressure and cautious sentiment take centre stage towards closing ahead of US vote of debt plan.


Double blows for fkli bulls. Fkli hit the low of 47.5, 1-mth low, on sellstop under 53 in the closing minutes. Mostly near 55-60 in PM.

EU near -0.5%. Djfuts +10 but all quiet.

77% fkli volumes from rollover activities.

Fbm.fkli remain in sideways tone, above recent lows and trying to cross above 7SMA resistance for the past 4 days…and not much luck yet for bulls! as US debt impasse continues… And fresh -ve if fbm< 54. targeting a move towards 30.

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