very wide swing this week, alternating between 2650-2700 so far. about RM50 swing everyday but for the week only up RM10. Mkt still stuggle to maintain its momentum above 2700-2720, the year high lvl. but not much luck yet probably due to the "narrow discount" it commands over soyoil.
technically the mkt is in danger of forming a double-top formation if it does not make fresh grounds soon. With soyoil laggard, by almost 2% this week, and sluggish, fcpo bears are seen stepping up their effort.
a sell mkt if below 2685, fear of bears activities. Bulls will have better chane if mkt nears 2700 but to be sure must take out 2700 if not 2720++.
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