Buying after 4pm push mkt to year-high and setting a technically bullish tone for next week with 1300 a possibility next week. Fbm strong on commodity related stocks, both crude oil and crude palm oil. Fkli saw strong vol in the last 30 mins of trading, probably cut loss buying, pushing mkt above 1260.
With the “seemingly strong desire” to test 1270-1300 band, the mkt is seen well supported above 7SMA if there is any setbacks in the early part of the week. With major target seen at 1300, a brekaout buy above new high remains an option, in case there is no pullback first.
Above 1257.5, very bullish. Trading sell-on-weakness only, below 1257.5.
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