Thursday, August 06, 2009

MarketWrap : bullish breakout.....finally


Fbm.fkli stage a breakout above 1180 when you least expect it. Dare to dream!. Regional reversed yesterday’s losses, except China, weighed by financial stocks, with mostly positive tone in the afternoon.
Commodity stocks strong today. Crude oil jumps to year-high, above 72.0.

Today’s is a breakout, moving out of the 1-week range neutral range. It would be nice to see 1200 tomorrow... a strong probability... but another breakout seems overdone this week amid its thin turnover for the past few days.
More importantly bulls must protect 1180 support tomorrow…and save the best for next week. !



No comments:

Post a Comment