Friday, April 02, 2010

Fcpo wrap....back to upward-bias range...



Fcpo ventured further up on soyoil 1% ahead of Good Friday holiday. Very low activity.

Technically +ve after regaining 7SMA as a support lvl. This reduces the chance of a breakdw scenario unless external weakens. But bulls need to push it above 2600 to reverse the current dwtrend move. Bears will play defensive role going to next week.
Abvoe 2550 is upwar-bias. While 100SMA, 30++, will serve as major support.

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