Fcpo see more gains in PM after a steady AM session. No danger of support breakdown today but much to do with recovering some of Thu’s massive losses on the back of firmer soyoil, +0.3%. Despite today’s weekend short covering, Fcpo lost RM72 this week
The mkt completed a 50% pullback from a 2400-2700 rally. Market remains bearish and likely to see a fresh leg down towards 100SMA the major support as long as the mkt is under short term SMAs.
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