After morning follow through selling, prices mostly recovered in the afternoon on short covering later. Sellers booked profit first waiting for DJ next move.However, the limited losses would not change the mkt negative outlook, buyers is expected to sidelines and still a pullback mkt.
Despite regaining 1160, Fkli still a bit shaky till the mkt secures the green zone. In the meantime, a trading sell mkt, targeting the red zone. Immediate resistance is lowered to 1170. Fbm chart looks terrible after breaking below 1170.
Any upside, if any, is seen as a recovery phase first.
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