Thursday, August 18, 2011

Fcpo wrap...3000 survives another day....


Another sideways day, -ve day amid a lack of gains in the commodity mkt plus weak equity tone. But, prices remain in recent 5-day familiar ranges

No fresh tech signal on daily basis. But with 7SMA support catching up, bulls must push for a strong closing tomorrow, at least above 3050. Otherwise, it looks like a dwward bias tone next week. Below 3020 is, negative tone tomorrow. If so, can 3000 hold ?

No major trend seen if mkt stuck within 2900-3080.

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