Monday, January 18, 2010

FCPO wrap : strong bounce but dead cat range..2450-2530



-fcpo finished off it lows on profit take buying in PM amid a lack of fresh externals. CO also reduced it losses to -1% from near -2%
-today effort has yet to change the mkt bearishness. It could still be a dead cat bounce scenario, if its stuck below 2500 or 7SMA.
-below 2450 is the next big sell signals. Below 7SMA is sell mkt.

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