Thursday, February 11, 2010

Fcpo wrap....breakout but lack shine on profit take



- a breakout but not much steam, tracking a 1% strong run in the commodities. Internally, still cautious, especially this week, a lot of profit taking activities at the higher end. The mkt stays within an uptrend trajectory but individually, mostly black candle this week. .

-Apr10, the outgoing benchmark, came near to 2600 before profit take set in thereafter. Still. very much a buy mkt but after today it needsto take out 2600 first before fresh buying interest appears. otherwise, the mkt is due for a pullback towards 2500. The mkt is on a 8-day-RM135 wining streak.
-immediate suport is raised to 2570 from 2550. Above 2570 is buy mkt..maybe 2570-2600 range play tomorrow b4 CNY.

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