Thursday, August 11, 2011

Fcpo wrap....targeting 7SMA resistance...





Positive tone in AM and strong bounce in PM after EU opens with +3% gains. Technical momentum and short covering lift fcpo towards 3000.

Fcpo is seen attempting to break 7SMA resistance tomorrow. If successful, next target is 3050-60. Like fkli, it will likely end the week on rebound mode Above 2950, no longer see dwtrend momentum.

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