Except for a few +ve moment in the early 30 mins or so, mkt mood was generally moody after Fbm experienced speedy descend, like last Friday. Regional strength calmed players. HS at 11-mth high.Later, strong recovery seen after 4.00 pm on Europe strength this time. But mkt still cautious internally, waiting for DJ to start Aug-mth trading first, maybe. -
Fbm.fkli support at 7SMA again. While toppish at 1160-1180 for the last 5 days already, mkt is read for a breakout of 1180….yeeehahh! amid 1) strong support at lower end and 2) follow through on DJ side….after all last mth was DJ “best July” in 20 years. Of course, this is all talk.
Back to technical, above 1160 is an existing buy, above 1180 is a fresh buy.
Btw, crude oil is back to $70 for the fist time since July 1, after disappearing from the radar last mth, Hopefully it would push energy sector higher FIRST before inflation stories catch the headlines.
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