Negative tone continues as DJ gains failed to jump start the mkt. To be sure, regional was sluggish at best over time. Never did come close to 80 and technical weakness took centre stage.
Fbm was very weak for most of the day, until a late surge after 4.15pm to day’s high. Also pushing Fkli off its lows –giving bulls something to cheer for.
Fantastic rebound, help to prevent an immediate breakdown case if mkt opens weak tomorrow. But still no positive tone yet on the daily chart. Fbm looks bottoming out. A trading buy if mkts stays above 70 tomorrow. Upside target limited to 80, downside limited to 60 ahead of weekend.
Fbm was very weak for most of the day, until a late surge after 4.15pm to day’s high. Also pushing Fkli off its lows –giving bulls something to cheer for.
Fantastic rebound, help to prevent an immediate breakdown case if mkt opens weak tomorrow. But still no positive tone yet on the daily chart. Fbm looks bottoming out. A trading buy if mkts stays above 70 tomorrow. Upside target limited to 80, downside limited to 60 ahead of weekend.
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