Regional strong on financial and property. Commodity price higher in late afternoon, crude oil at 4-day high.
After a strong morning session, FKLi took a breather near 1070 from 2.30 till 4.00pm, trading at a discount to klic. Thenafter, it came alive on its own after HS closed.
Prices power ahead, taking out all short term SMA resistance. The “steepness” of recent upward move is a surprise. Would not discount a move towards 1090 if external factors continue to strengthen tomorrow, but probably too “steep” to go position-long at this point (for my taste) ahead of the weekend.
The mkt is expected to bring forward “+ve tone” . Therefore, selling is for intra-day play as the mkt is unlikely to shift back to negative trend, meaning below 1050. Immediate support is raised to 1060
Focus: weakness for intra-day sell. Buying tomorrow must have a tight stop.
After a strong morning session, FKLi took a breather near 1070 from 2.30 till 4.00pm, trading at a discount to klic. Thenafter, it came alive on its own after HS closed.
Prices power ahead, taking out all short term SMA resistance. The “steepness” of recent upward move is a surprise. Would not discount a move towards 1090 if external factors continue to strengthen tomorrow, but probably too “steep” to go position-long at this point (for my taste) ahead of the weekend.
The mkt is expected to bring forward “+ve tone” . Therefore, selling is for intra-day play as the mkt is unlikely to shift back to negative trend, meaning below 1050. Immediate support is raised to 1060
Focus: weakness for intra-day sell. Buying tomorrow must have a tight stop.
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